Category: Trust Administration

A Trustee’s Fiduciary Duty—What is in your best interest?

When you create a living trust, you appoint a successor trustee to be in charge and manage the trust in the event you are unable to do so either because of incapacity or death. Your trustee is bound to administer the trust by a fiduciary duty. Generally, this means that the trustee must act in each trust beneficiary’s best interest. Find out how this happens.

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Be Careful What You Wish For—Problems with naming Co-Trustees

Stepping into the role of trustee can be emotional and stressful and disagreements may happen. The trust must dictate how the co-trustees need to proceed when they disagree. This could be by unanimous decision, majority rules, and in worse case scenario, a court must break a tie. Co-trustees is a risk that can lead to hurt feelings and family strife. Learn some tips on how to avoid this.

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