SANTA CRUZ COUNTY ESTATE PLANNING COUNCIL
APRIL WEBINAR
Wednesday, April 12, 2023, 11:30 a.m. – 12:30 p.m.
Subtrust Allocation for Litigation Attorneys
During this presentation, Judge Glen Reiser (Ret.) will discuss various critical aspects of subtrust funding as part of the trust administration process. Often, upon a first death of a spouse and, at times, upon the death of the second spouse to die or a single person, the subject trust includes requirements and guidance for administering the trust regarding the allocation of assets to various subtrusts for the benefit of one or more beneficiaries. As we are seeing it more and more in the courts and mediation, subtrust allocation decisions by a trustee can turn into having to defend a claim against such trustee for failure to, among other things, collect assets and obtain date of death values, property manage assets, and fairly allocate assets among subtrusts in accordance with the terms of the trust. The presentation will cover important concepts such as a trustee’s administrative duties, marital deductions, pro-rata allocation of assets, community property and separate property characterizations, gift and estate taxes, and portability, all in light of trust litigation.
Speaker: Judge Glen Reiser (Ret.) currently works with JAMS as a mediator, principally resolving family trust litigation cases. Before becoming a judge, Judge Reiser worked more than two decades as a litigation attorney, including complex trust matters. (See, e.g. Burch v. George (1994) 7 Cal.4th 246.) As a trial judge for an additional two decades, Judge Reiser exclusively handled trust, probate and conservatorship matters for the majority of that tenure.
MCLE credits: The Santa Cruz County Bar Association has certified that this activity has been approved by the State Bar of California for one hour of MCLE credit.
