Fixing Broken Trusts – The “Why and How” of Modification, Settlement Agreements and Decanting – Practical Considerations sponsored by Key Private Bank
Please arrive at 11:30 am for networking time in advance of lunch.
Lunch will be served at noon with the meeting beginning at 12:20 pm.
About the Program
From time to time, estate planning professionals encounter trusts which due to changed circumstances or poor drafting are now cumbersome, useless, difficult to administer or create undesirable results. As clients live longer, the trusts which they created, benefit from or administer are more likely to become problematic. If the trust is still revocable or amendable, the fix is generally easy. If the trust is irrevocable, the fix may be easy, hard or even impossible. How do we improve undesirable provisions in gift, dynasty, support or marital trusts when circumstances, taxes or family objectives have changed? Is the trust truly irrevocable? Is there any inherent flexibility imbedded in the document? Can we modify, reform or decant this trust? Who can or must participate in the fix? Do we want or need a judicial blessing of the repair job? What language might we consider in drafting a trust today to prevent problems down the road? The program discusses the practical aspect of fixing broken trusts, including overviews of private settlement agreements, judicial modification and decanting of trusts.
About the Speakers
Ron Wayne joined the Cleveland office of Buckingham in 2002 as a partner. Part of the inaugural class, he is an Ohio Certified Specialist in Estate Planning, Trust and Probate Law, and is a longtime member of Best Lawyers in America and Ohio Super Lawyers for Trusts and Estates law. He is also licensed to practice in Florida and has earned an Accredited Estate Planner (A.E.P.) designation. Ron lives in Brecksville with his wife Ann, and is fortunate to live only two miles away from his three grandsons with whom he spends as much time as possible!
Dave Woodburn has been with Buckingham since 1997 and works primarily in the Akron office. He serves as Chair of the firm’s Trusts & Estates Practice Group and is a member of Best Lawyers in America for Trusts and Estates and Real Estate Law and a member of Ohio Super Lawyers for Trusts and Estates law. Dave lives in Bath with his wife, Christy, and their three daughters.
Laura B. Springer, CRPC®, CFP® │ 2018-2019 Program Chair
Reservation Policy – All attendees are encouraged to register in advance and walk-in reservations will be accepted on a space-available basis only. Meeting cost is $25 for members when paid in advance before noon 12/10/18, $40 for members at the door, $40 for guests and $200 for a table of six (please submit names to admin@epccleveland.org by 12/07/18). If you reserve and are unable to attend, please call the office to cancel by noon 12/10/18 to avoid a no-show reservation billing.
Continuing Education – EPC Cleveland has received approval for this program from the CFP® Board of Standards for CFP® designation holders. EPC has also received approval from the Supreme Court of Ohio for Ohio attorneys to receive CLE credit and from Ohio Department of Insurance for Ohio Insurance providers. A certificate of completion will be available for those CTFAs, CPAs, and CWS designees who feel the program satisfies their continuing education requirements.
To Reserve, click "Register Now" below.
Thank you to our sponsor:
Parking Options
Option 1: Reduced parking fees are available on a space-available basis at Ampco Euclid Gateway Garage (740 Euclid Ave., entrances on Euclid & Prospect) to those who enter after 11:01 am and exit before 2:29 pm. Guests should present ticket to the reception desk at The City Club for validation. After validation and if within the timing restrictions, the parking fee is $3*.
Option 2: Through a special arrangement between The City Club and The Metropolitan at the 9 (2017 E. 9th Street, Cleveland, Ohio 44115), guests are able to take advantage of a $10* valet rate. To take advantage, tell the valet you are attending an event at The City Club. Once at The City Club, pick up a blue ticket from the reception desk. Present this ticket to the valet upon claiming your car. This option is available to those who park at or later than 11:01 and pick up their vehicle before 2:29 pm.
*Prices and timing restrictions subject to change without notice.
Other options: Additional, non-discounted downtown parking can be found in the Atrium Garage (645 W. Prospect), Ameritrust Garage (900 W. Prospect), and Gateway Prospect Parking (944/1002 W. Prospect). More parking information can also be found here.
