How Can I Avoid Potential Liability as a Trustee?
Relatively little has been written about being a Trustee. Sure, you can find plenty of information online or speak directly with an estate planning attorney about how to choose a suitable Trustee, the Trustee’s role, expectations they must adhere to, what to do if you need to find a replacement, and so on. That said, you would be hard-pressed as a newly minted Trustee to find clear instructions on how to carry out your duties—especially when it comes to avoiding common mistakes, managing family dynamics, or ensuring you don’t accidentally expose yourself to potential liability.
Simply put, being a Trustee is confusing. Since estate planning guidance is our focus, our goal with this upcoming series of articles is to help Trustees understand their role, identify what needs to be done, and guide them through the nuances of the job.
Since we are on the topic of potential liability, let’s start there.
To learn more, read Leigh's full blog.
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