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:
- Our monthly podcast episode will air a bit later this month.
- 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.
- 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.
- 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.
- 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.
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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 III: There’s a Better Way
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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.
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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.
