Individuals often name family members or friends to serve as trustees of their trusts because close family friends or relatives tend to understand family dynamics and a beneficiaries\u2019 needs better than a professional fiduciary. \u00a0Even so, serving as trustee can be a difficult job. Fiduciaries are responsible for protecting, investing, and distributing trust assets to beneficiaries in accordance with the settlor\u2019s instructions as set forth in the trust instrument, and more.\u00a0 Sometimes, carrying out your trustee duties require careful interpretation of the trust language.\u00a0 Meanwhile, a trustee\u2019s performance is subject to state laws; violating fiduciary duties could be the basis for personal liability.<\/p>\n
Administering a trust properly involves significant record-keeping and reporting duties, which demands time and careful attention.\u00a0 Despite best efforts, some trustees may become involved in a dispute with a beneficiary.\u00a0 These issues can often be avoided with proactive management.\u00a0 Fortunately, the Law Offices of Ron Feinman is here to advise and support you in your role as trustee.\u00a0 Should a dispute result in litigation, we will recommend outside counsel and assist you in finding resolution. Our goal is to assist you in carrying out your fiduciary duties competently and effectively. Contact us for knowledgeable, trustworthy advice through what is often unfamiliar territory.<\/p>\n","protected":false},"excerpt":{"rendered":"
Individuals often name family members or friends to serve as trustees of their trusts because close family friends or relatives tend to understand family dynamics and a beneficiaries\u2019 needs better […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"resourcespage.php","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/virginia-elderlaw.com\/wp-json\/wp\/v2\/pages\/389"}],"collection":[{"href":"https:\/\/virginia-elderlaw.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/virginia-elderlaw.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/virginia-elderlaw.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/virginia-elderlaw.com\/wp-json\/wp\/v2\/comments?post=389"}],"version-history":[{"count":1,"href":"https:\/\/virginia-elderlaw.com\/wp-json\/wp\/v2\/pages\/389\/revisions"}],"predecessor-version":[{"id":583,"href":"https:\/\/virginia-elderlaw.com\/wp-json\/wp\/v2\/pages\/389\/revisions\/583"}],"wp:attachment":[{"href":"https:\/\/virginia-elderlaw.com\/wp-json\/wp\/v2\/media?parent=389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}