One of the most nerve-wracking parts of fiduciary practice is determining whether or not to take a case. Often, this is done with minimal information, and a fiduciary must make an educated guess. Heartburn can be decreased, and chances of a successful administration increased, if a fiduciary can work with a team of professionals early to evaluate a case and to determine, “Should I Stay or Should I Go?” This pre-conference intensive focuses on case evaluation and will be presented by a multi-disciplinary team of legal, fiduciary, financial, and real estate professionals who specialize in keeping our fiduciaries out of trouble.
Pre Conference Intensive B
Special Needs Trust Administration: Creating the Spending Plan, Making Appropriate Distributions, and Working with Difficult Beneficiaries
Administering a Special Needs Trust is one of the best services a professional fiduciary can provide. Doing a great job helps to enhance the quality of life of persons with disabilities and it is the type of service that professionals do better than non-professionals. This pre-conference intensive will assist the private professional fiduciary become a better SNT trustee by providing education and guidance on some of the most challenging duties an SNT trustee will face including creating a spending plan given available assets and lifetime care needs, understanding the do’s and don’ts of making appropriate SNT disbursements so that each is made with an understanding of the effect on public benefits, and tips in managing difficult beneficiaries and their families. This panel includes an experienced private professional fiduciary, special needs planning attorney, special needs planning financial advisor, and lifetime care manager to provide the best overview of these challenging tasks.
Review of the core competencies established by the Center for Guardianship Certification for the California professional fiduciary licensing exam. This course is taught by Russ Marshall, NMG, CLPF and certified instructor by the National Guardianship Association.
Thursday, August 6 - Live and Live Stream
Where's the FUN in DysFUNctional Families: Interactive Case Studies
Through interactive case studies, this panel demonstrates how Professional Fiduciaries can team up with an Aging Life Care Manager and trusted counsel to develop solutions to tricky family situations. The team will address how best to “wow” and persuade the judge to implement their solutions. The case studies will be derived from the practices and experiences of the panel and made interactive through the polling features of the conference’s Attendify app.
Probate: Soup to Nuts is a comprehensive, step by step review and explanation of the Probate process, starting with a clear identification of the duties and responsibilities of the person serving as executor or
administrator, the goals to be achieved and the alternative procedures available to meet those goals. The program will identify each milestone marking your progress as executor or administrator through the probate process and the tasks which must be completed to reach each one.
Trust Distributions and Drafting: Perspective From Our Gigs
Nationally recognized experts Stephen Dale, Esq. LL.M, Principal of The Dale Law Firm P.C., Executive Director of the Golden State Pooled Trust, and Peter J Wall, Director of Fiduciary Services for True Link Financial, will cover all aspects of discretionary distribution requests made from beneficiaries of Special Needs Trusts (SNTs), Discretionary Trusts and Conservatorships. The session will address how and from whom such requests are made, sole benefit impact, discretionary distribution language drafting and implications, beneficiary expectation setting, distribution funding mechanisms and beneficiary-specific lifetime budgetary planning. Music and gig-themed trivia and fact patterns abound!
Friday, August 7 - Live and Live Stream
Helping Fiduciaries Understand the Court's Perspective
The objective of our presentation is to educate the Fiduciaries about how best to work with the courts, how to avoid common pitfalls, and how to best present their matters to the court so that they can be successful in finding resolution.
Current Issues in Conservatorships: Assuring the Best Interests of Elders and the Vulnerable are Protected
Recent media coverage regarding Fiduciary practices has led to some passionate discussion regarding Conservatorships and the Probate System in California. The “gray area” of client best interest has come under heated debate from parties who would advocate against standard Conservatorship practices as well against CA Licensed Fiduciaries. Codified Probate Court procedures and accountings can offer answers to family members and other interested parties concerned with client care. This presentation will discuss recent changes to California law and current developments in Conservatorships from the Judicial, Fiduciary, Financial and Legal perspectives. Our distinguished panel will look beyond traditional court review of Conservatorships and Court Supervised Trusts for a detailed analysis of what really occurs in client estates. Honorable David J. Cowan, Supervising Judge of the Probate and Mental Health Depts. of the Los Angeles County Superior Court, will lead the panel and offer his insights concerning recent law changes as well as pragmatic advice regarding these issues. Joining him will be Attorney Tamie Jensen, an experienced probate attorney and current President Elect of the Los Angeles County Bar Association, who will add her perspective as a long-time legal representative for Professional Fiduciaries. Rounding out the group will be Financial Advisor Scott MacDonald, an arbiter of many client conflicts who will share his unique interpretation on budget and financial issues in Conservatorships.The event will foster an interactive discussion between panel members to seek pragmatic solutions and foster better understanding of Conservatees’ best interests.
The (Not So) Dumb Questions You are Too Scared to Ask
Synopsis: This is a panel presentation by an attorney, private professional fiduciary and certified public accountant. This presentation will cover the basics of setting up a client file, to picking the right team to assist you, as well as will answer questions about what most private professional fiduciaries think they should already know, or have questions on, but don’t necessarily want to ask their attorney or certified public accountant about.
Pre-Recorded, Digital On-Demand Sessions Accessible June 24 through August 8, 2020
Don’t Get Burned: What You Need to Know Before Delegating Your Authority to Investment Professionals
The professional fiduciary faces many challenges. Among them is deciphering the industries and rules governing the various professionals they may delegate to at times. This is especially true for the world of investments and investment professionals. It is often complex and confusing. This presentation is a pragmatic primer in what you need to know to navigate this world astutely and proficiently. You’ll learn from three experienced experts as they transform the complex into clarity and understanding. And, you’ll learn what you need to know to avoid getting burned when you delegate your authority to investment professionals.
Fiduciary Accountings – I Hate Accounting, Remind Me Why And How I Have To Do This
Court Accountings are easy! Yes, that’s right. That’s what you’ll come out of this dynamic and informative session realizing. Part 1 is a quick review of the basics: banking basics; how best to keep the records you’ll need (particularly real estate-related transactions); reconciling bank (and brokerage?) statements; software; basic nuts & bolts of accountings; and what you need to plan ahead for. Part 2 will focus on more complex aspects of accountings such as securities, and brokerage accounts for example. Wouldn’t it be nice to have one less area to worry about? (Particularly since you and your attorney may not get paid until an accounting is filed with the court and approved!) Led by the Bay Area's probate accounting expert - back by popular demand.
Special Needs Trust Insurance Coverage - Dropping the Ball
Cognitive and Functional Assessments play an integral role in approaching a patient’s care holistically and throughout the health care continuum. In this presentation, geriatric experts Dr. Mehrdad Ayati, medical advisor to the United States Senate Special Committee on Aging, Dr. Chio Choi, 10-year Occupational Therapist and faculty member of San Jose State University, and Vince Amazona, LVN and Nurse Advisor, will provide attendees an opportunity to delve into the logistics of medical assessments, their impact, as well as some of the misconceptions surrounding test results. Choi and Amazona will also discuss proper communication practices for clients with diminished capacity. In addition, Ayati, Choi, and Amazona will also discuss significant trends in the senior care industry and how functional assessments can affect the quality of life. After the informational presentations, there will be a moderated panel discussion centered on questions from the audience.
Normal Aging or Elder Abuse? How Insufficient Staffing Can Lead to Avoidable Injuries in Assisted Living Facilities
Elder financial abuse is a considered a national epidemic. Financial institutions, including banks and financial advisors are advised to watch for “red flags” of potential exploitation and report suspected elder financial abuse. However, training to front line staff regarding financial abuse, undue influence and cognitive impairment is inconsistent. As a result, bank personnel, online banking fraud staff, and financial advisors are often uninformed about what to look for. They don’t understand that financial management is one of the first skills to go, or that elders trust people too much as a result of their cognitive decline. The presenters will explain how a lawsuit brought against the financial institution which allowed a theft or scam to occur may find some redress for an elder who has lost substantial sums to financial abuse.
This presentation will cover best practices for handling nonprobate transfers when the documents on file with the bank conflict with the decedent's estate plan. For example, what should the fiduciary do when the person named in the beneficiary designation form for a pay-on-death account is different than the beneficiaries named under the decedent's will or trust disposing of the account. What about a general assignment that assigns all assets to a trust: does the assignment trump the bank's forms? These questions and more are answered as the speaker covers the default rules for nonprobate transfers, as well as the clear-and-convincing-evidence exception to those rules that is spawning probate litigation all across California.
The presentation will discuss various environmental laws that a fiduciary needs to know about to avoid environmental liability related to property that may be in the fiduciaries portfolio or that is being considered to purchase/lease other property. Knowledge of such laws are necessary for the fiduciary for the fiduciary to avoid personal liability. The presentation will also touch on what proper environmental investigation need to be done as part of the requirements to avoid liability. We will discuss what investigation need to be done, why and how to get them done.
Trustee Unchained: Decanting Has Come to California
This program will review California’s recently enacted version of the Uniform Trust Decanting Act. Decanting refers to the power to modify an existing trust, either by changing the terms of that trust or by distributing property from that trust to a second trust. The speaker will discuss when and how to decant, the benefits of decanting, as well as the risks and pitfalls practitioners may experience when using decanting in their practice.
Financial Standard of Care - With a Focus of Ethics
A comprehensive presentation setting forth the financial standard of care for the various fiduciary roles of trustee, conservator, power of attorney, and administrator of decedent's estate. The presentation addresses the ethical parameters that envelope each of these specific fiduciary duties. Throughout the presentation the panelists highlight useful practice pointers in regards to the practicalities of the financial standard of care.
When Your Job Is Being The Ethical Adult In The Room
Ethical canons expressly require professional fiduciaries make decisions about “best interests” through the prism of their clients’ known ethnic, religious, social, and cultural values. Notably missing from this list is an oft-elided dynamic—many clients and their families are entrenched in dysfunction. How do you recognize and take into consideration the effect of this environment when considering your clients’ best interests? We will discuss real-life examples such as deciding whether to place a client in a professional-care setting rather than allowing care at home by a family member, or, when to pursue litigation to recover misappropriated assets from someone your client wishes to protect. Attendees will discuss how collaboration with counsel is essential to recognize, contextualize, and develop strategies to successfully and gracefully weather these ethical quandaries.
Data Security: What You Need To Know and What You Need to Do
Technology security expert and founder/CEO of True Link Financial Kai Stinchcombe provides actionable guidance on how to identify, measure, and manage data security in the operations of a fiduciary practice.
Defending Yourself: Professional Fiduciary Jiu Jitsu
Participate in an interview style format with a trust attorney, a former District Attorney, and a professional fiduciary to learn some “moves” you can make to defend yourself when beneficiaries are coming after you. Even if you do it “right” you may find yourself needing this information.We will cover the legal steps in raising an estate matter from a County Superior to State Appeals, to State Supreme Court and even into federal court. While malpractice insurance is crucial, often the issues that arise in cases may not be appropriate for insurance coverage. Therefore, the focus of this presentation is on handling the variety of actions a contentious beneficiary may take when unhappy with having a neutral fiduciary involved and what you can do about it. We will cover a discussion of the Pizarro v Reynoso case and how it may or may not apply to surcharges; obtaining restraining orders; legitimate vs unwarranted inquiries; and, determining when you are really, really, out of a matter.