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Being a trustee is a big responsibility but problems can be avoided if the trustee pays attention to their duties as trustee and uses best efforts to fulfill them.
A discussin of whether one trustee may represent a trust by signing checks without the signature of other trustees
Being appointed trustee is both a great honor and a great responsibility. We’ve created a Primer on Trust Administration to guide the non-professional trustee.
Being asked to serve as trustee is a great honor, but make sure you know what you’re getting into before agreeing to take on the role.
Professional trustees provide extensive benefits to trusts, including investment management, accounting, tax expertise, public benefits expertise and judgment based on experience.
As reflected in the case of Sheehan v. Clapp, the Massachusetts Uniform Trust Code permits the replacement of trustees when all the beneficiaries want a new trustee and the change would not defeat a material purpose of the trust.
While it’s an honor to be invited to serve as trustee of a trust, it’s also a burden. As the recently decided case of Greenberg v. Greenberg shows, it can create liabilities that lead to litigation that long survives the deaths of the trustees.
Being chosen to act as a trustee is a vote of confidence in your ability as well as a big responsibility. Margolis & Bloom, Wellesley and Boston, MA, 02481
Case involving special needs trust payment for voodoo cure demonstrates challenges facing trustees. Margolis & Bloom, Wellesley and Boston, MA, 02481
We create many agency relationships — trustee, health care proxy, durable power of attorney — often without being aware of the roles we fill or who fills them for us.
