Key Takeaways As a new trustee, understanding the trust document is crucial. This leaves little room for ambiguity about the trust’s terms, conditions, and beneficiary rights. Look for expert help for any ambiguous language. Loyalty, prudence, and transparency are the fundamental obligations of fiduciary duty—including as they’re traditionally applied to trustees. Always act in [...]
Key Takeaways Trust management is a structured process designed to protect and distribute assets, ensuring your financial legacy is preserved for future generations. It has certain legal protections written into it to ensure a smooth transfer of wealth. Trusts establish legal frameworks, financial products, and strategies that safeguard assets. Their clear benefits in asset [...]
Key Takeaways Asking the right questions when choosing a trust management service is crucial for making informed decisions and ensuring effective trust administration. Understanding a provider’s approach can go a long way toward demystifying processes and expectations. Proactively taking on trustee responsibilities, like legal and ethical obligations, will help avoid conflicts and create transparency [...]