Strengthening the “Trust” in Trustees – Creating a Letter of Wishes for Trustees
Have you named a corporate trustee? Created a dynasty trust that will extend for generations? Given your trustees broad authority to make discretionary distributions? If so, and it is important to you that all successor trustees truly understand your personal perspective, you’ll want to consider creating a letter of wishes. Such a document, or recording, allows room for a full and natural expression of your intent, yet does not limit the authority of the trustee. The result: your “voice” will always be heard and succeeding generations of trustees can use their discretionary authority with confidence and build healthy relationships with beneficiaries. As a personal, non-binding complement to the legal trust documents, it makes sure that “trust” of a very personal sort is at the heart of the estate plan. You will learn:
- The circumstances under which a letter of wishes would be valuable
- Legal status; do’s and don’ts
- Role of the advisor in encouraging their creation
- How to get started: a review of questions and topics to consider
2:00 – 3:00 EST. Please register by midnight the day before. We’ll be in touch with you personally to provide instructions about how to join the conversation.
