How To Avoid The Most Common Mistakes Trustees Make
Failing To Follow The Uniform Trust Act
by: Pennsylvania Attorney David M. Frees III
The Pennsylvania Uniform Trust Act has mandatory requirements for the trusts creation, termination, modification among others. It is important to follow all of the rules and regulations as a trustee so you do not set yourself up to be held personally liable or to get sued.
So if you are a trustee read this brief article on the Pennsylvania Uniform Trust Act to avoid personal liability and lawsuits.
See all ten of our articles on How To Avoid The Most Common Mistakes Trustees Make:
Avoiding Trustee Mistakes No. 1: Trustees Failing To Understand The Trust Language
Avoiding Trustee Mistakes No. 2: Trustees In Trouble Making Early Distributions
Avoiding Trustee Mistakes No. 3: Trustees Failing To Follow The Prudent Investor Rule
Avoiding Trustee Mistakes No. 4: Trustees Failing To Follow The Uniform Trust Act
Avoiding Trustee Mistakes No. 5: Trustees Failing to Follow The Principle And Income Act
Avoiding Trustee Mistakes No. 6: Trustees Failing to Communicate Properly
Avoiding Trustee Mistakes No. 7: Failing to Properly Reform, Amend, or Terminate
Avoiding Trustee Mistakes No. 8: Failing to File Tax Returns Or To Seek Professional Assistance
Avoiding Trustee Mistakes No. 9: Failing To Understand The Role Of Multiple Trustees
Avoiding Trustee Mistakes No. 10: Trustees Failing To Do The Job
