Justia Connect Webinars Trust Administration Unleashed: Advanced Issues, Fiduciary Duties, and Practical Pitfalls

You are watching a webinar preview. To view the full webinar, log in to your Justia Connect account or sign up for free.

Overview AI Webinar Summary

Trust Administration Unleashed: Advanced Issues, Fiduciary Duties, and Practical Pitfalls

This is an advanced-level program designed to equip practitioners with the tools to navigate the legal, tax, and practical complexities of modern trust administration. Grounded in the Uniform Trust Code, this presentation explores fiduciary duties, trustee liability, post-mortem planning strategies, and the most common — and costly — administrative missteps. Attendees will gain actionable insights and practical frameworks to mitigate risk, manage beneficiary relationships, and administer trusts with confidence and precision.

Topics covered include:

Wills, Trusts & Estates

Agenda:

Framing the Battlefield

Why trust administration is inherently risky, focusing on the tension that exists between the trustee and the beneficiaries
An overview of the Uniform Trust Code and why it matters on a national level
What goes wrong most often in trust administration

The UTC Framework

Understanding the difference between mandatory and default provisions, which helps attorneys draft better and understand how to issue-spot in trusts that they didn’t draft
A deep dive into the Uniform Trust Articles most relevant to trust administration

Fiduciary Duties: Where Liability Is Born

The core duties of a trustee, especially the duty of loyalty, the duty of impartiality, and the duty to inform and report
The most common litigation triggers

Trustee Powers and Beneficiary Rights

Trustee discretion versus beneficiary expectations
Spendthrift provisions in the context of creditor rights
Beneficiary rights in the context of trustee duties
The idea and implementation of beneficiary representation

Advanced Administration Mechanics (Where Pros Get Tripped Up)

The pitfalls of trust administration, including funding formulas with a focus on the differences between pecuniary and fractional and the potential tax consequences of each
Asset valuation decisions, sub-trust funding, and timing issues
Considerations regarding portability versus the bypass trust

Post-Mortem Planning & Flexibility Tools

How to fix a plan that isn’t working
Decanting, non-judicial settlement agreements, modification and reformation, and disclaimer planning

Practical Pitfalls & Risk Management

When to avoid engagement
The impact that attorney conflicts have
Tips and tricks for managing difficult beneficiaries
Practical tips for a smooth administration and practical checklists for practitioners

Questions & Answers (As Time Permits)

Duration of this webinar: 60 minutes

Originally broadcast: May 13, 2026 10:00 AM PT

Webinar Highlights

This webinar is divided into section summaries, which you can scan for key points and then dive into the sections that interest you the most.

00:00 Trust Administration Challenges

Tereina Stidd, the speaker, sets the stage for the discussion by highlighting the critical nature of trust administration when a person has died, focusing on potential pitfalls in trustee and beneficiary interactions. Tereina discusses the importance of communication in trust administration, noting that many issues arise from a lack of communication. The concept of a zero-sum game is introduced, where administrative costs reduce the amount beneficiaries receive, creating natural tension. Tereina emphasizes the need to be aware of various contentious issues such as liquidity, creditor priority, and tax liabilities.

10:03 Uniform Trust Code and Trustee Duties

The Uniform Trust Code is discussed as a critical framework for understanding trustee duties, with emphasis on the distinction between mandatory and discretionary elements. Tereina explains that certain trustee duties, such as acting in good faith and loyalty, are non-waivable and must be adhered to regardless of the trust document's provisions. She stresses the importance of the duty to inform beneficiaries, noting that failure to do so is a major trigger for litigation. Virtual representation is introduced as a concept where a trustee can inform a representative instead of the beneficiary, but caution is advised to avoid conflicts of interest.

30:17 Trustee Powers and Responsibilities

The ability of trustees to delegate certain tasks is noted, but caution is advised. Tereina emphasizes the importance of understanding the duty to diversify under the Prudent Investor Act. She provides an example of a trustee failing to diversify assets, leading to significant financial loss and potential litigation from beneficiaries. Directed trusts are discussed, with a focus on the misconception that trustees are absolved of liability when following directions from a trust director. The alternate valuation date is explained as a potential tool for reducing estate taxes, although its practical application is limited.

01:01:18 Client Management and Litigation Risks

Client management is discussed, with Tereina advising caution in taking on clients with potential litigation risks. She highlights the importance of thoroughly understanding the trust document and identifying any red flags that could indicate future disputes. She advises on the importance of being selective with clients and recognizing when to refer cases to other professionals. Tereina concludes with a list of common reasons trustees get sued.

Please note this AI-generated summary provides a general overview of the webinar but may not capture all details, nuances, or the exact words of the speaker. For complete accuracy, please refer to the original webinar recording.

Speaker

Tereina Stidd Director of Education
American Academy of Estate Planning Attorneys

Tereina Stidd spent over fifteen years in private practice, working in AM Law Top 100 and 200 firms, mid-sized firms, and boutiques. When the opportunity to join the American Academy of Estate Planning Attorneys (the “Academy”) presented itself, she jumped at it. The Academy is an organization dedicated to empowering attorneys from around the country to fulfill their potential through its tested systems, procedures, and workflows. Tereina knew that her broad range of practical experience would be invaluable in her role as the Director of Education at the Academy. Tereina spends her days helping Member firms resolve issues ranging from how best to structure an estate plan to determining which sections of the Internal Revenue Code will apply to a particular transaction to administering estates and trusts efficiently. The range of issues she addresses keep Tereina knowledgeable in all areas relating to Trusts and Estates and provide opportunities for growth, development, and collaboration between Tereina and Academy Members. Read More ›

Continuing Legal Education (CLE) Credits

*CLE credit is only available to Justia Connect Pros. Not a Pro? Upgrade today>>

Alaska CLE

Status: Approved

Format: Live (Virtual), On-Demand

Credits: 1.00 General

Earn Credit Until: May 12, 2031

California CLE

Status: Approved

Format: Live (Virtual), On-Demand

Credits: 1.00 General

Earn Credit Until: June 30, 2026

Hawaii CLE

Status: Approved

Format: Live (Virtual), On-Demand

Credits: 1.00 General

Earn Credit Until: May 12, 2028

Illinois CLE

Status: Approved

Format: On-Demand

Credits: 1.00 General

Earn Credit Until: May 12, 2028

New Jersey CLE

Status: Approved

Format: Live (Virtual), On-Demand

Credits: 1.20 General

Earn Credit Until: May 12, 2027

North Carolina CLE

Status: Approved

Format: On-Demand

Credits: 1.00 General

Earn Credit Until: February 28, 2027

Ohio CLE

Status: Approved

Format: On-Demand

Credits: 1.00 General

Earn Credit Until: December 31, 2026

Pennsylvania CLE

Status: Approved

Format: On-Demand

Credits: 1.00 Substantive Law, Practice, and Procedure

Earn Credit Until: May 12, 2028

Texas CLE

Status: Approved

Format: On-Demand

Credits: 1.00 General

Earn Credit Until: April 30, 2027

Vermont CLE

Status: Approved

Format: Live (Virtual), On-Demand

Credits: 1.00 General

Earn Credit Until: May 13, 2031

West Virginia CLE

Status: Approved

Format: On-Demand

Credits: 1.20 General

Earn Credit Until: December 31, 2029

This presentation is approved for one hour of General CLE credit in Alaska, one hour of General CLE credit in California, one hour of General CLE credit in Hawaii, one hour of General CLE credit in Illinois, one hour of General CLE credit in North Carolina, one hour of General CLE credit in Ohio, one hour of Substantive Law, Practice, and Procedure CLE credit in Pennsylvania, one hour of General CLE credit in Vermont, and one hour of General CLE credit in West Virginia. This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.20 hours of total CLE credit. This course has been approved for Minimum Continuing Legal Education credit by the State Bar of Texas Committee on MCLE in the amount of 1.00 credit hours.
This presentation is approved for one hour of General CLE credit in California from 2026-07-01 to 2028-06-30.

Justia only reports attendance in jurisdictions in which a particular Justia CLE Webinar is officially accredited. Lawyers may need to self-submit their certificates for CLE credit in jurisdictions not listed above.

Note that CLE credit, including partial credit, cannot be earned outside of the relevant accreditation period. To earn credit for a course, a lawyer must watch the entire course within the relevant accreditation period. Lawyers who have viewed a presentation multiple times may not be able to claim credit in their jurisdiction more than once. Justia reserves the right, at its discretion, to grant an attendee partial or no credit, in accordance with viewing duration and other methods of verifying course completion.

At this time, Justia only offers CLE courses officially accredited in certain states. Lawyers may generate a generic attendance certificate to self-submit credit in their own jurisdiction, but Justia does not guarantee that lawyers will receive their desired CLE credit through the self-submission or reciprocity process.

Looking for CLE credit? Visit CLE Dashboard

Watch Related Videos

CLE

Tereina Stidd American Academy of Estate Planning Attorneys (“AAEPA”)

Probate From Start to Finish What Every Attorney Should Know

Watch Now

CLE

Leah Del Percio Trustate

Estate Administration Simplified Master the Mess Without the Stress

Watch Now