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Navigating the New Uniform Fiduciary Income and Principal Act

Aired: Tuesday, January 29, 2019


2.0 CTFA

The Uniform Law Commission just adopted in June 2018 the all new Uniform Fiduciary Income and Principal Act (UFIPA), which features a more robust power to adjust and a new unitrust conversion regime, both tools that can be used by trustees to fulfill their duty of impartiality. UFIPA retains traditional default rules for determining principal and income from the prior Uniform Principal and Income Acts, the rules governing certain asset classes, like business assets, private equity and other cutting-edge investments and retirement benefits, have been updated for clarity and comprehensiveness.

Discussion Highlights:

  • The Power to adjust
  • Unitrust conversion option
  • Drafting for fairness under a trustee's duty of impartiality
  • Review of updates and additions to the new Act

Speakers:

  • Ronald D. Aucutt, Partner, McGuireWoods LLP
  • Susan D. Snyder, Trust Counsel, Deputy General Counsel, Senior Vice President, Northern Trust
  • Turney P. Berry, Partner, Wyatt, Tarrant & Combs, LLP

 

 

 Continuing Education Credits

 

ABA Professional Certifications has approved this program for 2.0 CTFA continuing education credits for the live program and the recording. 

Recordings are not eligible for CFP credits.

CPE logoRecordings are not eligible for CPE credits. 

American Bankers Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

​Program Questions? Please contact Linda Shepard / Cari Hearn.
 

 Purchase

 
 

 Audience

 
  • Trust Officers
  • Trust Managers
  • IRA Administrators
  • Trust Administrators
  • Financial Planners
  • Retail Bankers
  • Relationship Managers
  • CTFAs, CPAs and CFPs
 

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