05.19.2022 - Trustee
Trustee Training: Rights and Responsibilities
Presented by Steve Mancini and Kate Langmore
A loved one has just passed away and now the successor trustee must serve as trustee of the living trust. Are they prepared to handle the myriad of questions regarding their rights and responsibilities, taxes, and investments in these different situations?
Listen to estate planning attorney Steve Mancini for an overview of the legal and procedural requirements of trust administration to assist trustees and their advisors to properly discharge their duties and avoid personal liability while preserving the important family relationships. The discussion is also the perfect opportunity to review the terms of your trust for this inevitability.
Quite a few good ideas and things that are useful to make clients aware. Saving a buck or two in lieu of professional help - might not make any sense in all but the simplest of trust situations.
Best presenter and webinar thus far in all my attendances to your webinars. Steve was clear in his speech.
Trustee Liability Insurance is something I didn't know about. Very good to know. Thank you
1) Dunham Trust - will pass along to other advisors in my firm 2) Above and below ground AB trust - haha 3) Don't make kids TTEEs 4) Steve describes things very clearly, seems very knowledgeable
It's always useful to hear about the differences in community and separate property states and how different state estate and trust laws can be.
Seek out professional trustee help for clients interested in setting up trusts. Discourage them from using family members or children as this can cause many problems & have unintended consequences.
Very informed speaker - good choice and time well spent!