Letting Go of the Dead Hand: The Shortcoming of Traditional Trust Planning
Traditional trust planning is often driven by the legacy of the grantor, objectives to optimize tax savings, and other fiduciary goals. Rather than fostering purpose and productivity, these aims may deprioritize beneficiary well-being.
Morris Nichols partner Todd Flubacher recently co-authored an article with Niké Anani and Philip J. Hayes of Northern Trust, and Kristen Keffeler of Johnson Financial Group LLC on the importance of starting trust planning from the perspective of the rising generation.
In their Trusts & Estates Magazine article, the authors advocate for beginning the trust planning process by asking the client “Why?” “What’s their purpose for creating a trust in the first place? Isn’t it to promote and support the well-being of descendants so the trust ultimately benefits their lives and enhances—rather than detracts from—their ability to lead purposeful, productive, and meaningful lives?”
The full article is available here. Also access Part II and Part III on our website.
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Niké Anani, Todd A. Flubacher, Philip J. Hayes, and Kristin Keffeler, “Letting Go of the Dead Hand: The Shortcoming of Traditional Trust Planning,” Trusts & Estates Magazine (December 2023)
