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Category Archives: Duties of Trustee
Idaho Supreme Court Opinion
In 2018 I testified as an expert witness in a local case. The decision for the defendant Trustee was appealed up to the Idaho Supreme Court. In his decision upholding the trial court decision, Justice Bevan quoted the following portion … Continue reading
Statements from a Judicial Verdict
In a recent decision, Judge Edward Nicholas included the following statements in his Final Judgment: “Mr. Masterson gave the Court a primer on the criteria necessary to establish a fiduciary duty, both express and by implication. His analysis was thorough, … Continue reading
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Who Will Be Your Trustee?
Here is an excellent review of important considerations when choosing a Trustee for your Trust. These considerations also apply when you are choosing a Personal Representative or an Executor. Who can you trust…with your Trust?
Posted in Duties of Trustee, Estate Planning, Executor, fiduciary, Trust, Trust Administration, trust beneficiary, trustee Tagged Executor, Personal Representative, Trust, trustee Leave a comment
Trust Allocation of Timber Sale Proceeds under the Uniform Principal and Income Act
The Uniform Principal and Income Act (the “UPAIA”) was completed by the Commissioners on Uniform State Laws in 1997. The UPAIA was adopted shortly afterward by the State of Idaho. It has been adopted as of the writing of this … Continue reading
“TRUSTEE SCORECARD®” TRADEMARK REGISTRATION AWARDED
Masterson Receives Registration by US Patent and Trademark Office Serving as a Trustee of a Trust can be a daunting process for even the most well-prepared person. The personal liability for a Trustee can be overwhelming, if the Trustee is … Continue reading
Posted in Duties of Trustee, Executor, fiduciary, Prudent Investor Rule, Trust Administration, trustee Tagged Beneficiary, Coeur d'Alene Idaho, duties of a Trustee, fiduciary, Fiduciary duties, Trust Administration, trust beneficiary, Trust company, Trust litigation, trustee, Trustee liability, Trustee Scorecard Leave a comment
Selecting a Trustee: Other Considerations
What criteria do you use to choose a fiduciary or to assist a client in choosing a fiduciary? Many of us, particularly those of us who are professional advisors, are familiar with many of the legal, financial, and even risk … Continue reading
Posted in Duties of Trustee, Estate Planner, Estate Planning, fiduciary, Prudent Investor Rule, Trust, Trust Administration, trust beneficiary, trustee Tagged corporate fiduciaries, estate planner, estate planning, Fiduciaries, fiduciary, Professional advisors, Trust, Trust officer, trustee Leave a comment
Choosing a Trustee – What Characteristics are Needed?
Those Grantors who don’t struggle with the selection of a Trustee probably should. I’ll confess that poor Trustee selection creates revenue opportunities for me, either through the cost of cleaning up a Trust mess or as an expert witness in … Continue reading
Too Many Eggs in the Trustee’s Basket
I recently worked on a piece of trust litigation where the deceased Grantor of a Trust restricted the ability of the Trustee to sell a leveraged asset that comprised > 95% of the Trust’s assets. Regardless of the Grantor’s intentions, … Continue reading
Is the Trustee you’ve selected qualified and prepared?
Excellent guidelines to use in choosing the appropriate Trustee for your trust(s). The answer is not as simple as you would think. Who is Fit to Be Trustee? Ask me about Trustee Scorecard (TM)
Avoiding Heir-raising Horror Stories
Encourage your clients to plan intentionally for their children. They do their children no favors when the kids are given responsibilities for which they are unprepared. Goodbye Family Fortune