The Future of the Fiduciary

The year is 2019. Wealth concentration in the United States has reached its highest point since before the Great Depression. Society places a newfound and widespread premium on corporate responsibility, diversity and inclusion, and environmental conservation. Philanthropy has far surpassed pre-recession giving levels, proof that today’s wealthiest value “charitable impact” as much as they do “rate of return.” In our modern era of growing wealth, shifting values, and the digital transformation of financial services, the role of the fiduciary has never been so critical; and yet, avoiding and navigating fiduciary litigation has never been more complex.

Join us as we explore emerging trends that will impact professional and individual fiduciary responsibility. At our 2019 seminar, gain key insight into ways to adapt your practice today to best serve your clients for the next 10-20 years. 

Agenda

Registration
12:30 p.m. – 1:00 p.m. CT

Ethics CLE | Giving Ethically: Navigating the Future of Philanthropy with Your Clients
1:00 p.m. – 2:00 p.m.

In a recent study, the National Philanthropic Trust reports that Donor Advised Funds (DAFs) are at an all-time high with more than $110 billion held in charitable assets. Last year alone, donors contributed more than $29 billion to DAFs and used them to recommend over $19 billion in grants to qualified charities. Despite gaining popularity in DAFs and their multitude of benefits to donors who use them, critics remain skeptical that charitable intent is the leading motivation for such prolific growth. As legal and financial professionals engaged in trusts and estate planning work, we’re responsible for understanding the ethical concerns surrounding the use of DAFs and ensuring our clients are properly informed about their limitations. This presentation will provide you with a solid understanding of what DAFs are, from how they can be used and how they are regulated, to the ethical considerations and responsibilities for advisors engaged in estate planning work, within the context of emerging trends in philanthropy.

Presenter:

Stephanie K. Donley, J.D.
Philanthropic Advisor
The Minneapolis Foundation

Break 
2:00 p.m. – 2:15 p.m. CT

Keynote | Your Future Clients: Preparing Your Practice for the Next 10-20 Years
2:15 p.m. – 3:15 p.m. CT

We all know that today’s clients reflect the trends we see nationwide, including the prevalence of nontraditional family structures, the increasing number of adults who identify as transgender or non-binary, the rise of autism diagnoses, and a host of dynamics that require flexibility and agility in planning. What about the clients of tomorrow? Forward-thinking fiduciaries must plan for their clients’ extended lifespans as a result of health care advances, for the impact of assisted reproductive technologies (ART) involving donors, surrogacy, posthumous conception, and the impact of DNA-related issues and cloning. Join us on a predictive journey through the 21st century and learn to prepare your practice for the next 10-20 years.

Keynote Speaker: 

Naomi R. Cahn 
Harold H. Greene Professor of Law 
George Washington University Law School

Panel | Avoiding Fiduciary Litigation in the Age of Technological and Digital Transformation 
3:15 p.m. – 4:15 p.m. CT 

The modern fiduciary, whether operating in a private trust company, an outside service provider, or a family office, faces a similar set of roles and expectations as an IT department within a corporation. From reporting and recordkeeping, to filing taxes, to investing, to setting up electronic wills and trusts, fiduciaries need to know the technological advances that will provide new efficiencies for their clients, as well as the risks associated with relying too heavily on these tools. This panel will address how to embrace the digital transformation of fiduciary services while avoiding litigation related to disclosure of information, data privacy and cybersecurity, ethical rules, and more. We will also touch on unique issues such as digital assets, technology in investing, and artificial intelligence.

Moderator: 

Timothy Billion 
Associate 
Robins Kaplan LLP 

Panelists: 

James I. Dougherty 
Partner 
Withers Bergman LLP 

William J. Kambas 
Partner 
Withers Bergman LLP 

Jeffrey J. Roby
VP, Sr. Corporate Counsel – Privacy and Data Strategy 
U.S. Bank Law Division 

Stacey Slaughter 
Partner 
Robins Kaplan LLP

Interactive Session | Ripped from the Case Law (Minneapolis); Reception (Boston)
4:15 p.m. – 5:15 p.m. CT 

Reception (Minneapolis) 
5:15 p.m. – 6:15 p.m. CT

For this event, Robins Kaplan will seek approval with Mandatory Continuing Legal Education boards in Massachusetts and Minnesota for a maximum of 3.0 hours of Standard credit and 1.0 hour of Ethics credit. Robins Kaplan will also seek approval with the American Bankers association for the equivalent Certified Trust and Financial Advisor (CTFA) continuing education credit.

Questions? Contact Christine Berndt at CBerndt@RobinsKaplan.com or 612.349.8404.