Transcription of TRUSTEES BEWARE: Understanding Your Trustee Duties …
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TRUSTEES BEWARE: Understanding Your Trustee Duties …
Dean, Mead, Egerton, Bloodworth, Capouano & Bozarth, 800 North Magnolia Avenue, Suite 1500 Box 2346 (ZIP 32802-2346) Orlando, FL 32803 Orlando Fort Pierce Viera 407-841-1200 407-423-1831 Fax LAUREN Y. DETZEL 407-428-5114 September 2009 TRUSTEES beware : Understanding your Trustee Duties and How to Stay Out of Trouble Lauren Y. Detzel, Esq. September 2009 I. Introduction TRUSTEES have numerous responsibilities in the administration of a trust. There are many situations where a Trustee can trip up and unknowingly expose itself to liability. This outline will discuss common issues that arise in the administration of a trust and the proper way a Trustee can address these problems while limiting its potential liability.
b. Trustee is also a beneficiary of the trust. 5. Discretionary Distribution Standards Exercise of a trustee’s discretion in making distributions to beneficiaries is
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