ACTEC Trust & Estate Talk Counting Down, Counting Up, Flourishing: Part 4 of 4
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Aug 26, 2025 Steve Akers, a prominent trust and estate lawyer from Dallas and ACTEC Fellow, dives into innovative estate planning strategies that prioritize family well-being over mere financial legacies. He emphasizes the importance of aligning estate plans with clients' hopes and dreams, outlining how trusts can support housing, healthcare, and education. Akers introduces concepts like the Family Advancement Sustainability Trust and discusses the new Delaware statute on beneficiary well-being trusts. He also draws inspiration from the Savannah Bananas on creating a fan-first culture to enhance client service.
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Plan For Values Not Just Assets
- Clients often want to pass on more than money, including values, skills, and well-being.
- Estate instruments can convey messages and hopes that shape family culture across generations.
Structure Trusts Around Baseline And Flourishing
- Design trusts to provide a baseline of support for housing, health care, and education.
- Authorize additional spending like coaching or positive psychology to foster beneficiaries' flourishing.
Use Form Language To State Goals
- Use suggested form language to express settlor goals: support needs plus flourishing activities.
- Make clear equal economic splits are not the primary concern if settlor prefers tailored support.