Trustees must manage and invest trust assets carefully and in accordance with the trust’s terms. Investment losses do not automatically make a trustee personally liable, but a trustee can face liability if they breach a fiduciary duty. What Is a Fiduciary Duty, and What Duties Do Trustees Have? Trustees are […]
Category: Trusts
Trusts are meant to provide clear instructions for how assets should be managed and distributed. Life can be unpredictable, and circumstances can change. When that happens, a Florida court may be able to modify a trust’s terms. Here is what to know about changing the terms of a trust. What […]
Having a co-trustee who refuses to cooperate, mismanages trust assets, or puts personal interests first can make administering a trust difficult. If you are dealing with an unwanted co-trustee, you may have legal options to address the issue, including seeking removal. Here is why it may be a good idea […]
Trustees have a legal responsibility to manage trust assets responsibly, and they have to back that up with documentation. Without proper documentation, even well-intentioned trustees may face questions or allegations from beneficiaries who believe the trust has been mismanaged. By establishing strong recordkeeping practices from the beginning, trustees can reduce […]