It’s harder to be a trustee than to go down steps on a pogo stick

The Problem: You are a trustee. You said “Yes” when a family member, close friend, or client asked you if you would serve as their successor trustee. Now, the settlor is dead, and you occupy the fiduciary office. And for that you will receive treasures in heaven… and consternation here on earth, because the beneficiaries…

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UPIA §2(c)(6) re Other Resources of the Beneficiary

prudent administration for a trustee

The Conundrum: Question: Should the investment policy and distribution rate from a trust be informed by assets held by the beneficiary that are outside the trustee’s responsibility or control?   Predictably the answer is… it depends. However, in most cases it is fair to say, “The trustee is obligated by statute to consider other assets, income,…

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