How To Avoid The Most common Mistakes Trustees Make
Failing To Do The Job Of Trustee
by: Pennsylvania Attorney David M. Frees III
This is the last in our series of brief articles about the most common mistakes trustees make and how to avoid them. It is important to understand the language of the trust, to follow rules such as the Prudent Investor Rule, abiding by the Uniform Trust Act, to seeking professional assistance. Read these very brief articles to get a hold on your job as a trustee and how you can 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
