ESTATE PLANNING COUNCIL OF NORTH TEXAS

BREAKFAST MEETING 

WEDNESDAY, SEPTEMBER 16

Breakfast served 7:30-8:00 a.m.

Program 8:00-9:00 a.m.

GLENEAGLES COUNTRY CLUB (5401 West Park Blvd., Plano)

Registration Deadline: SEPTEMBER 8 (5:00 p.m.)

REGISTRATION WILL NOT BE AVAILABLE AFTER THE REGISTRATION DEADLINE

WALK-INS ARE NOT GUARANTEED A MEAL. CASH OR CHECK AT THE DOOR

Member: $30

Guest: $40

But What's an Ascertainable Standard?

Clarifying HEMS Distribution Standards and Other Fiduciary

Considerations for Trustees

CHRISTIAN KELSO

Sponsored by The Catholic Foundation, NDBT and Glast Phillips Murray Zopolsky

This presentation examines the meaning and practical application of the “ascertainable standard” commonly used in trust distribution provisions, particularly the HEMS standard—health, education, maintenance, and support.  It is intended for both lawyers and other professionals.  It begins with an overview of fiduciary duties and grantor intent.  It then covers the history and purpose of ascertainable distribution standards, conceptually.  Then, it includes a discussion of modern interpretation of health, education, maintenance, and support, including an overview of how certain modifying language might impact that interpretation.  The presentation concludes with a look at trustee considerations when making distributions and some suggested best practices.  Overall, the presentation serves as a guide for trustees seeking to make defensible distribution decisions while complying with fiduciary and tax-law requirements.

Christian S. Kelso is a professor at Texas Tech University School of law, where he teaches Property, Wills & Trusts, Estate Planning, and Mergers & Acquisitions.  He is also Of Counsel at the Dallas law firm of Farrow-Gillespie Heath Wilmoth LLP.  He also serves as facilitator and advisor for families wishing to implement family systems and governance.  Christian is a Fellow of the American College of Trust and Estate Counsel (ACTEC), a former Council member of the Real Estate Probate and Trust Law Section (REPTL) of the State Bar of Texas, and a co-chair of the Decedents' Estates Committee of the Texas Real Estate and Probate Institute (T-REP).  Christian is a native Dallasite, having attended St. Mark’s School of Texas for twelve years before moving on to the University of Texas at Austin.  Christian returned to Dallas for his J.D. and LL.M. (in Taxation), both of which he received at Southern Methodist University's Dedman School of Law.  Christian speaks German fluently and lives in Lubbock with his wife and two children.

Continuing education credit for attorneys, accountants and financial planners is pending for this meeting. The handout will be available on the website under the document library a few days prior to the presentation.

REGISTER WITH THE LINK BELOW

We would like to thank the following Sponsors for their support for 2026-2027: Argent Trust, Armanino, Communities Foundation of Texas, Frost Bank, Glast Phillips Murray Zopolsky, Lindquist Eisenberg LLP, NDBT, Regions Bank, Texas Bank & Trust, The Catholic Foundation, Value, Inc, American National Bank & Trust, Texas Health Resources Foundation, Prosperity Bank, Heritage Auctions, Saville CPAs & Advisors, Wealth Advisors Trust Company, Happy Trust.

IMPORTANT: Sign in Sheets will not be available at the meeting. The continuing ed links are provided with receipt - save the links for the day of the meeting 

PAYMENT IS REQUIRED AT TIME OF REGISTRATION

$30 - Member 

$40 - Guest 

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