There’s an adage that the two best days in a boat owner’s life are the day they buy their boat and the day they sell it. A similar notion applies to being a trustee – it’s an honor to be named and ...

Trustee compensation lacks clear rules; most family member trustees are unpaid, but expectations vary. Discussing payment, responsibilities, and taxes upfront prevents disputes and resentment among ...

The most challenging decision an estate planner must make is who to recommend as a trustee for a client. Trusts execute the estate plan, and the trustee is the lynchpin of any trust. The trustee plays ...

In simple terms, trustee fees are essentially a payment for services rendered. A trustee can be an individual or an organization, such as a bank, wealth management company or other financial ...

Trustees play a vital role in the management and direction of revocable trusts. However, sometimes trustees need to be removed and replaced. While some trusts can be easily amended to change trustees, ...

Maybe a friend or a relative has recently passed away and you just received a communication informing you that you have been named as a trustee. You have no idea what this role entails, and you feel ...

Trustees manage assets for beneficiaries, ensuring decisions benefit them, not trustees' personal interests. Trustees must follow the trust's instructions, e.g., managing investments and providing ...

Establishing a trust as part of your financial plan is something you might consider if you have extensive assets or simply want a measure of control over how those assets are managed after you're gone ...

Profit narrowly defined is total revenue minus total expenses, i.e., net gain. Profit broadly defined is merely a synonym for benefit. When a trustee’s unauthorized self-dealing directly harms the ...

A trustee's sale is one option that a lender has if you get behind on your mortgage and default on your payments. Foreclosure is usually the second option. The two differ only slightly in what they ...

Trusts are often established as an estate planning tool to properly account for and distribute assets according to the grantor's wishes after death. Most grantors remain the primary trustees of the ...