Trustee Duties: Enforcing Claims and Defending Actions

Articles, Trustee Assistance

This is the third article in a series detailing the duties of a trustee. We have explored the duty of a trustee to comply with the terms of the trust instruments as well as the duties to control trust property and make it productive. This time I will address the duty to enforce claims the trust has against others and to defend actions against the trust. Before taking on the responsibility of acting as a trustee it is crucially important that you fully understand all the legal duties that come with the job.

Trustee Duties Continued: Preservation and Productivity

Articles, Trustee Assistance

Last newsletter I covered the duty of a trustee to comply with the terms of the trust instruments. This time I will address the duty to control the trust property as well as make the property productive. This means that the trustee has a legal obligation to ensure that the trust not only maintains value but also increases in value as appropriate within the terms set out by the trust instruments.

Choosing the Best Fiduciary for the Job

Articles, Trustee Assistance

Most people have two major goals in estate planning. The first is ensuring that their wishes are honored, both during their lifetime, and after. The second is reducing administrative costs. Choosing the wrong fiduciary can mean that these goals are not met. Your appointment for power of attorney and trustee means selecting the person who will control, manage and distribute assets when you are incapacitated or deceased, which makes it crucial to carefully think out this appointment. By the end of this article you will understand the importance of making the right appointment and how to go about doing so.