Unintended Consequences of Naming a Charitable Beneficiary in a Will or Trust
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REGISTRATION FOR THIS EVENT IS CLOSED.
PLEASE NOTE MEETING TIME:
11:45 A.M. “VIRTUAL” MEETING
THURSDAY, JANUARY 7, 2021
RESERVATION DEADLINE: PAYMENT MUST BE RECEIVED BY DECEMBER 30 (5:00 P.M.). After registration closes, an additional email will be distributed to the registrants regarding access instructions to the online presentation and continuing education credits (CHECK SPAM FOLDER). If someone is registering for you, please be sure YOUR EMAIL ADDRESS is listed in the RSVP form. REGISTRATION WILL NOT BE AVAILABLE AFTER THE REGISTRATION DEADLINE. ONLY THOSE WHO REGISTER BY THE REGISTRATION DEADLINE WILL RECEIVE THE LINK TO THE LIVE WEBINAR PRESENTATION. THERE ARE NO EXCEPTIONS.
UNINTENDED CONSEQUENCES OF NAMING
A CHARITABLE BENEFICIARY IN A WILL OR TRUST
Sponsored by Frost Bank and HighGround Advisors
Potential charitable beneficiaries are always an important consideration in estate planning. Designating or naming charities as beneficiaries, whether primary or remainder, usually satisfies goals such as leaving gifts to entities whose purposes and functions are important to the settlor/testator and also provides advantages for tax and preservation of wealth purposes. However, many estate planners and their clients often make the mistake of assuming these charitable beneficiaries will simply be content just to be invited to the party. They see the pros but do not take into consideration potential cons of how these charities and their counsel may react to issues that arise during the administration of the estate/trust or how they deal with or interact with other beneficiaries and with the trustees, executors, administrators or other fiduciaries. Many charities have become much more sophisticated, litigation savvy, and aggressive in protecting their interests, as has the Texas Attorney General’s office. So, while designating charities will likely continue to be popular as part of any estate plan, the decision to include them needs to be fully informed as to potential downsides and litigation risks. A failure to do so can cause discord between designated beneficiaries, lead to complaints, threats and demands for information or action that may drain estate/trust assets or delay distributions, and can even result in unwanted litigation. Mark Sales is a commercial litigator with a focus on probate, trust and related fiduciary duty litigation. He also represents clients on a wide variety of trial and appellate matters in the federal and state courts, including litigation involving lender liability and financial services, products liability, personal injury, toxic tort, energy, and insurance. Prior to joining Diamond McCarthy, Mr. Sales was a partner with Dykema Gossett, where he was a member of its Commercial Disputes practice group and also co-chaired its Probate, Trust and Related Fiduciary Duty practice group. Prior to Dykema, he practiced for 25 years with Hughes & Luce, where he served on the firm's Executive Committee and as Hiring Partner before that firm merged with K&L Gates in 2008. Mr. Sales served as a Director of the State Bar of Texas from 2007 to 2010 and previously served as President of the Dallas Bar Association in 2006 and President of the Dallas Association of Young Lawyers in 1994.
There is continuing ed credit pending for this presentation. The handout will be available on the website under the document library a few days prior to the presentation.
You may register online with a credit card payment (preferred payment) on the website: scroll down to the bottom of the page and register. LOG IN IS NOT REQUIRED TO REGISTER. If you need a receipt, print out the confirmation page. To register via mail for the meeting, complete the form below, enclose a check (payable to Dallas Estate Planning Council) for the respective amount (indicated below) and mail to: Dallas Estate Planning Council, P.O. Box 38553, Dallas, TX 75238-8553.
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WE WOULD LIKE TO THANK OUR MEETING SPONSORS: ARMANINO LLP, BESSEMER TRUST COMPANY, CARTER FINANCIAL MANAGEMENT, COMMUNITIES FOUNDATION OF TEXAS, TEXAS WOMEN’S FOUNDATION, FROST BANK, HIGHGROUND ADVISORS, MERRILL LYNCH – THE MAYNARD GROUP, PARKLAND FOUNDATION, QUEST CAPITAL MANAGEMENT, THE CATHOLIC FOUNDATION AND HERITAGE AUCTIONS. IN ADDITION, WE WOULD LIKE TO RECOGNIZE THE PATRONS: BISIGNANO HARRISON & NEUHOFF, MCBRIDE & ASSOCIATES AT MERRILL LYNCH WEALTH MANAGEMENT, DAVIS STEPHENSON, GLAST, PHILLIPS & MURRAY, GOLDIN PEISER & PEISER, SIGNET ART, STOUT, RGT WEALTH ADVISORS, CARR RIGGS INGRAM, BKD, LLP, SECURITY NATIONAL BANK AND TARLETON LAW FIRM. THE PATRON PROGRAM PROVIDES ADDITIONAL FUNDS TO SUPPORT THE COUNCIL’S ACTIVITIES.
PAYMENT IS REQUIRED TO ATTEND THE VIRTUAL MEETING.