Case Study – The Art and Complexity of Distributions
Overview
Distributions have many implications for the PFTC. The responsibilities of the Private Trust Company in preserving the corpus and being true to the role of the trustee must also align with the changing needs of the family. This peer dialogue will center around a case study examining the art and complexity of family distributions:
- What structures need to be in place?
- Who should be on the committee?
- How to balance changing needs of the family with trustee role of preserving the corpus?
- How should requests be vetted to balance true opportunities vs protection of the corpus?
- Whose view of best interests should prevail? The settlors? Beneficiary? Trustee?
- What are tax implications related to unplanned distributions and how are they incorporated into the decision process?