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Single "pot" trusts which allow a trustee to sprinkle distributions among a class of beneficiaries are often promoted as allowing a trustee to manage money in the same way that the grantor would manage money for the family. However, administering a pot trust is rarely straightforward. The trustee’s ability to manage tricky family dynamics, competing interests and different objectives is critical. The presentation will cover planning considerations, issues that come up during administration, and the fiduciary duties governing a trustee's actions.
Elisa Shevlin Rizzo is the head of fiduciary and legal counsel at Northern Trust in Greater New York, she’s responsible for delivering fiduciary service, legal counsel and holistic advice to trust advisors, wealth advisors, advisory account managers and wealth strategists. Before joining Northern Trust in 2017, Elisa was Managing Director, Trust Counsel and, most recently, Director of Estate Administration with Fiduciary Trust Company International. There, she led the restructuring of FTCI’s estate administration department, provided guidance on a variety of wealth planning, administration and fiduciary issues and oversaw the administration of complex estate arrangements.
Laura Weintraub Beck is a Principal and Chairman of Cummings & Lockwood's Private Clients Group and is based in the Greenwich office. She focuses her practice on estate planning, including business succession planning and planning for real estate holdings, estate administration, probate litigation and trust administration. In addition, Laura was formerly the Director of Client Communication for the Private Clients Group and was formerly in charge of attorney training at Cummings & Lockwood for several years.
John Bennett is a senior trust advisor at Northern Trust. John helps clients and their advisors carry out clients’ wishes in tax-effective ways over time, from all stages of planning through overseeing accounts where Northern Trust has a role as a fiduciary or agent. Before joining Northern Trust, John spent 20 years at JPMorgan Chase, where he was a managing director and senior trust officer. There he had extensive experience in all aspects of wealth transfer for ultra-high net worth families, including the planning and administration of sophisticated trusts and estates. Earlier in his career, he practiced trusts and estates law at Sullivan & Cromwell and Skadden Arps in New York City and Cummings & Lockwood in Greenwich, CT.
Michael P. Kaelin is a Principal in Cummings & Lockwood's Litigation Group and is based in the Stamford office. Mike represents individuals, fiduciaries and businesses in commercial, employment, employee benefits, probate, trusts and estates, conservatorship, guardianship, and investment disputes, including wrongful discharge and discrimination claims, will contests, fiduciary removal proceedings, contested accountings, fee disputes, construction proceedings, undue influence actions, and commitment proceedings in trial and appellate courts in Connecticut and New York.
CT: 1.0 Credits | NY: 0.0 CLE Credits