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Sinclair Prosser Gasior is pleased to present a FREE Continuing Educational Seminar!

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 A Free Continuing Education event for Financial Professionals

Presented by Sinclair Prosser Gasior

 Sponsored by the American Academy of Estate Planning Attorneys 

“The Maryland Trust Act” 

December 3, 2014, 9:00 – 11:30 a.m.

Registration and Breakfast 9 – 9:15 a.m.

Crofton Country Club, 1691 Crofton Parkway, Crofton, MD 21114

The number of subjects encompassed under the topic of estate planning is enormous. Estate Planning Attorney Brooke J. Shemer will enlighten you to upcoming changes in 2015 to the Maryland Trust Act that will affect those serving as Trustees or assisting a client with a Trust.   This is a class you won’t want to miss! 

When you have completed this class, you will: 

  • Have achieved a real increase in your level of technical knowledge
  • Be able to recognize estate planning opportunities that eluded you before
  • Fully appreciate the important role that certain financial products can play in planning an estate
  • Walk away with 2 Continuing Education credits – approved for Certified Financial Planners, Certified Public Accountants, and Life/Health Insurance Agents.  

To register call 410-573-4818 or 301-970-8080 or visit https://spgasior.com/seminars/  before November 25th, 2014.

The Maryland Trust Act:

What You Need to and How it May Affect your Clients

  • Maryland Trust Act: why does it affect you?
  • What actions need to take if you are serving as a trustee 
  1. Introduction and background                                                                                  9:00 – 9:15 a.m.
    1. Sources of current trust law in Maryland
    2. Rationale for Maryland Trust Act
    3. Changes to existing law
    4. When effective and where codified 
  1. Layout of Act                                                                                                               9:15-9:35 a.m.
    1. Definitions
    2. Judicial proceedings
    3. Virtual representation
    4. Creation, modification, and termination of trusts 
  1. Creditor’s claims                                                                                                        9:35-10:20 a.m.
    1. Rights of beneficiary’s creditor or assignee
    2. Discretionary trusts
    3. Support trusts
    4. Spendthrift provisions

i.      Exceptions to spendthrift provisions

  1. Claims against settlor
  2. Tenants by the entirety property 

Break 10:20-10:30 a.m.

  1. Revocable Trusts                                                                                                    10:30-11:30 a.m.
    1. Capacity of settlor
    2. Revocation or amendment
    3. Agency 
  1. Office of Trustee
    1. Co-Trustees
    2. Vacancy in trusteeship and appointment of successor
    3. Delegation of powers
    4. Notice requirements

i.      Duty to inform and report

ii.      Mandatory rules

iii.      Default rules

iv.      Drafting options

v.      Effective dates

  1. Liability of Trustees
    1. Remedies and damages
    2. Exculpation of trustee
    3. Beneficiary’s consent, release or ratification
    4. Miscellaneous provisions 
  1. Conclusion
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