The emergence of new roles in trust administration – such as trust protectors, trust advisors, distribution advisors and investment advisors – is a product of clients who see the traditional corporate trustee model as too limiting and the individual trustee model as lacking expertise and continuity. Clients are seeking ways to infuse trust administration with more flexibility and creativity in order to have access to the best and brightest thinking, to switch out functions that are not working and to be able to meet the administrative challenges of the uncharted financial, legal and familial territories ahead. Some professionals have referred to this new era of trust administration as the Wild West, where there are “no rules.” This year the Ethics Forum takes a look at these new roles and the ethical considerations in drafting and administering trusts populated with roles intended to effect change, when clients and their advisors may not really understand the world they are creating and how that new world may carry out the client’s mission.
Paul C. Heintz, Esq., Obermayer Rebmann Maxwell & Hippel, LLP
Partner in the law firm of Obermayer Rebmann Maxwell & Hippel, LLP. Fellow of the American College of Trust and Estate Counsel, recipient of PEPC`s Distinquished Estate Planner Award, Member of the Phila. Bar Assn.`s Professional Guidance Committee and frequent presenter on the subject of the Rules of Professional Conduct. Former Chair of the Philadelphia Bar Association`s Probate and Trust Law Section and author of an ethics column for the Section`s newsletter for over 20 years.
Linda Henry, Woodleave Wealth Process LLC
Linda Callahan Henry is the principal of Woodleave Wealth Process LLC. Linda works with families, corporate trustees and their advisors in developing and administering the processes that are integral to wealth management. She specializes in the challenges inherent in multi-generational and trustee/beneficiary relationships, designing and managing processes that allow individuals, families and trustees to integrate the services of multiple advisors and to develop strategies that enhance and promote effective planning, communication and decision-making on a global or situational basis. She has advised some clients for over thirty-five years and is actively working with them to study the impact decisions have had relative to desired outcomes.
Melinda G. Rath, Glenmede
Melinda G. Rath is a Wealth Advisor in Glenmede’s Philadelphia office. In this role, she is responsible for providing thoughtful wealth management advice, solutions for fiduciary, charitable, financial, and wealth transfer planning, and trust and account administration. Ms. Rath partners with investment, tax and wealth planning colleagues to understand client goals, provide tailored guidance and ensure clients’ wealth management objectives are fulfilled.
Two Education Credits for CLE Ethics (PA Only), Insurance (PA Only), CFP, CPA (PA Only), PACE and CTFA will be offered.
Click here to download a printable registration form.