A Trustee owed a fiduciary duty to the trust and the trust beneficiaries. A fiduciary duty means that a Trustee must use the utmost care when managing trust assets and making investments with those assets. Risky investments are to be avoided. A Trustee should take into account what is in the best interest not only of current beneficiaries but also of future beneficiaries of the trust.
Topics covered in this report include:
- Trust Basics
- Fiduciary Duty
- Duty and Responsibility to Beneficiaries
- Manage Trust Assets
- Abiding by Trust Terms
- Making Distributions
- Accounting
- Taxes
- Delegating
Click here to read the whole article or download the PDF.
Anthony Moccia is an attorney and partner at The Law Offices of Kobrick & Moccia.His practice focuses on estate planning and elder law.He is a member of the New York State and Nassau County Bar Associations.He frequently presents free seminars on wills & living trusts to area residents and his seminars are said to be “informative, entertaining & easy to understand.”
Latest posts by Anthony Moccia (see all)
- “Last Will and Testament” Origin - April 1, 2021
- Do I Need a “Durable” Power of Attorney? - April 2, 2020
- Joint Tenancy Pros and Cons - March 31, 2020
Leave a Reply
You must be logged in to post a comment.