The UHNWI Institute MARCH 2025 MONTHLY THEME – Beneficiaries

 

This March, The Institute’s theme is Beneficiaries, with our Roundtable on March 25th focusing on The Delaware Beneficiary Well-Being Trust Statute. Kristin Keffeler, Chief Learning Officer at Johnson Financial Group, will converse with Todd A. Flubacher, partner at Morris, Nichols, Arsht & Tunnell LLP, about the new section 3345 of Title 12 of the Delaware Code and provide an overview of its uses and benefits, how traditional planning tools may impact beneficiary well-being and how to incorporate new tools into traditional trust planning. To learn more and register, click here.

 

For more on beneficiaries, see below for some insightful articles, books, and podcasts.

Other content and programming being released this month are:

  1. Our monthly podcast episode will air a bit later this month.
  2. Russ Haworth will discuss better hiring decisions in Successful Components of Hiring with Teresa Leigh, founder of Teresa Leigh Home + Family Office, a boutique firm advising clients on staff and operational oversight. This pre-recorded webinar will be available in our Resource Library soon.
  3. Practice Management Clinics continue on March 12th with the Service building block being discussed. We welcome all practice leaders to attend to share their experiences, problem-solve and create connections. Register here. 
  4. On March 19th, the Emerging Leaders Cohort resumes with a guest speaker aimed at mentees, mentors and firms looking to implement mentorship programs. We’ll hear from Alexa Carbone with Ballentine Partners and others on the benefits these programs provide to employees and employers alike. We look forward to re-engaging and pairing mentors with our existing Emerging Leaders Cohort this quarter. We encourage those members who would like to act as mentors to reach out to us to learn more. Email aledoux@theUHNWInstitute.org
  5. An in-depth report about the 2024 Symposium will be available within the Resource Library and has been featured in Family Wealth Report here

 

If you are interested in becoming a member and attending events, contact us 

 

ARTICLES

Delaware’s New Beneficiary Well-Being Statute: Innovative Trust Law Is the First of Its Kind in the Country

Todd A. Flubacher, Kristin Keffeler, Elizabeth M. Luk, Jennifer E. Smith, 2025

This introduction to Delaware’s new Beneficiary Well-Being Trust law outlines its purpose, benefits and key considerations. The law allows trustees to establish programs that educate beneficiaries on financial matters, estate planning, family legacy and philanthropy. Unlike restrictive trusts that limit information, this approach promotes transparency and communication across generations. By formally recognizing the role of beneficiary education, the law marks a significant step in supporting lifelong learning in family wealth management.

Delaware Trust Act 2024 – Legislative Update

Todd A. Flubacher, J. Zachary Haupt, 2024

This review covers the Delaware Trust Act 2024, outlining its impact on trustees and beneficiaries. The amendment to Title 12 refines key definitions and clarifies the legal basis for a letter of wishes. The addition of the Beneficiary Well-Being Trust statute allows trustees to fund educational and coaching programs that prepare beneficiaries for wealth, including financial literacy, philanthropy, estate planning and asset transfers. This Act reinforces the importance of beneficiary education across all areas of family wealth.

Letting Go of the Dead Hand Series

Nike Anani, Todd A. Flubacher, Phillip J. Hayes, Kristin Keffeler, 2024

DESCRIPTION

This three-part series examines the unintended consequences of traditionally designed and silent trusts, highlighting their impact on beneficiaries. It explores how trust structures can either hinder or support well-being and offers strategies for designing trusts that prepare beneficiaries for life with wealth. The final article introduces Wealth 3.0, a modern approach to trust planning that prioritizes education, communication and long-term family success.

Letting Go of the Dead Hand: The Shortcoming of Traditional Trust Planning

Letting Go of the Dead Hand – Part II: With Silent Trusts, All Might Not Be Quiet on the Western Front

Letting Go of the Dead Hand – Part III: There’s a Better Way

BOOK

Family Trusts: A Guide for Beneficiaries, Trustees, Trust Protectors, and Trust Creators

Hartley Goldstone, James E. Hughes, Jr., Keith Whitaker, 2015

Family Trusts provides clear guidance for trust creators, trustees, beneficiaries and advisors on building and managing trusts with both structure and care. It discusses setting clear intentions, selecting the right people and establishing a positive culture to prevent conflict and ensure the trust serves its purpose. The book addresses challenges like trustee-beneficiary relationships, difficult conversations and legal considerations while offering practical steps to create a trust that functions smoothly and reflects the values behind it.

PODCAST

Newton Knowledge Podcast: Letting Go of the Dead Hand Episode

Todd Flubacher / Morris, Nichols, Arsht & Tunnell LLP and Mark Singer, Steve Target / Newton One

This podcast episode features Todd Flubacher discussing Delaware trust law, silent trusts and beneficiary well-being with Newton One. The conversation explores how traditional planning techniques affect beneficiaries, when to use silent trusts and how to align a trust’s structure with a client’s personal and financial goals.

 

Mission:
  • Provide an intellectual framework, understanding and organization of family wealth management content
  • Educate advisors and family offices on how best to support evolving UHNW families
  • Provide thought leadership, insights and resources to advisors and family offices
  • Promote best practices, provide professional development and support sustainable, positive change within our industry
  • Foster an equitable, collaborative and safe learning environment within the wealth management industry