Stacey Wiley of HumaneCNY will join us at the start of our meeting to share a little bit about what the organization does and how they distinguish themselves from other shelters and how they could be an appealing option for estate planning clients who are considering a charitable bequest.  The Council would like to send Stacey back to the shelter with gifts for the animals in their care.  Please consider bringing a food item or toy to donate.  Thank you.

"Interesting Trends with Millennials and Trusts"

April 17, 2025  11:45am - 1:00pm

Speaker:  Al W. King, III is the co-founder, co-chairman and co-chief executive officer of South Dakota Trust Company LLC and South Dakota Planning Company. With currently more than $135 billion in assets under administration, South Dakota Trust Company offers pure trust administration without any products, working with whomever the client/advisor wishes regarding investments, insurance, and custody. As a result of South Dakota’s unique trust, tax, asset protection and privacy laws, SDTC works with families in 54 countries. SDTC also serves as corporate and/or trust agent for family private trust companies. Mr. King was previously managing director and national director of estate planning for Citigroup as well as the co-founder and vice chairman of Citicorp Trust South Dakota. Mr. King has been inducted into the NAEPC Estate Planning Hall of Fame®. Additionally, Mr. King was previously on the NAEPC board of directors and currently serves on its publication and webinar committees. Mr. King is the Co-Vice Chairman of the editorial board of Trusts and Estates magazine and has been a member for more than 30 years. He is a member of several groups and organizations, including the Society of Trust and Estate Professionals (STEP), the International Association of Advisors in Philanthropy (AiP), New York Philanthropic Advisors Network (NYPAN), Fairfield County and New York City Estate Planning Councils, etc. In addition, he is frequently published, quoted and speaks on the topic of estate and trust planning. Mr. King received a Bachelor of Arts cum laude from Holy Cross College, a Juris Doctor from Syracuse University Law School and an LL.M. in Tax Law from Boston University School of Law. Mr. King is based in New York City/Westport, CT.

76 million millennials have overtaken Baby Boomers as the largest living adult generation. Millennials are getting married later and living at home longer, creating many intergenerational households. These factors along with powerful wealth transfer trends are all resulting in some very interesting estate planning strategies with millennials involving directed trusts, investment management LLCs, beneficiary quiet trusts, family real estate, purpose trusts, as well as the perpetuation of family values involving the promotion of social and fiscal responsibilities. Even though the divorce rate is lower amongst millennials than previous generations, it is still an issue. The latest divorce asset protection strategies involving millennials will be discussed, along with important cases and statutes. Lastly, the importance of millennial involvement in family fiduciary structures along with the most popular structures will be discussed. These structures involve directed trusts, special-purpose entities, trust protector companies, as well as regulated and unregulated private family trust companies.  Knowing what millennials desire regarding perpetuating family wealth, as well as the planning alternatives available, has never been more important!

One CE credit has been approved by the CFP Board to CFPs attending this program in person.  You must sign-in when picking up your name tag.

Zoom:

Join Zoom Meeting

https://cnycf-org.zoom.us/j/96213148428?pwd=cnBBQmRIdmsxS2trQXhiVTRBNmgxZz09

Meeting ID: 962 1314 8428

Passcode: 107613