One thing that can have a major impact on a trust is how the trust is administered. The person in charge of administering a trust is the trust’s trustee. Thus, the role of trustee can be a very impactful one.
Consequently, a trustee can feel a fair amount of pressure when it comes to their role. They may be afraid about the possibility of making a mistake in the administration of the trust and they may have a plethora of questions regarding how best to fulfill their role.
Our law firm can provide trustees here in Massachusetts with guidance on trust administration and how to best steer clear of potential trust administration pitfalls. Among the things we can do for trustees we represent is help them stay informed of the different things it is important to know when serving the role of trustee.
One of the things it can be very important to know when one is a trustee is what specific legal requirements are placed on a trustee when they are administering a trust. There are specific fiduciary duties that trustees are to comply with when it comes to trust administration. If a trustee does not know what specific duties are placed on them, they could run the risk of accidentally running afoul of these duties, which could potentially expose them to litigation.
If you would like to learn more about trust administration and our firm, you may find our firm’s trust administration page to be a good starting point.