Trustee

Question: As a named trustee, I believe my duties will be to liquidate property and other assets, file final taxes, and distribute the estates funds to the beneficiaries. If so, I am looking for [...]

Question: Our firm has been attorney for a Credit Shelter Trust for a deceased client over 30 years ago. A member of the firm had always been a co-trustee until last year. Client’s widow [...]

This article describes the types of accounts trustees must maintain. But the next question is, who’s entitled to receive copies of accounts prepared by the trustee? The Uniform Trust Code [...]

Trust accounts or “accountings” can take a number of forms. The simplest is simply to share bank and investment information with beneficiaries and anyone else entitled to trust [...]

In choosing a trustee, the considerations are somewhat different depending on whether your trust is revocable or irrevocable. If you have a revocable trust, you will probably serve as its [...]

Question: My sister is trustee of my mother’s trust. There were assets of approximately $16 million gross. My sister has taken trustee fees totaling $175,000. She initially told all the [...]

Question: The following statement regarding the appointment of successor trustees from a trust has led to some confusion: The initial Trustee is John W., then Edna L., then Susan K. shall serve [...]

Question: In trust documents, my cousin, the settlor, specifically has a clause that states I can eliminate any beneficiary that contests. I did remove one beneficiary. He is now suing me, saying [...]

Yes, trustees are entitled to compensation. After all, they perform important services with a high degree of responsibility and potential liability. Nevertheless, when family members serve as [...]

Question: I am co-trustee of a revocable trust with my elderly mother, the grantor trustee. I have been actively managing the trust. She recently made an amendment to the trust independently with [...]