Many people establish trusts to protect their hard-earned wealth and ensure a future for their beneficiaries. Commonly, a trustworthy (no pun intended) close friend or relative is chosen to serve as trustee. But what happens if that trustee, who is otherwise trustworthy, is not detail-oriented and fails to keep a good record of trust transactions? Even where there is no bad intent on the part of the trustee, the failure to maintain detailed records of trust transactions spells trouble for all parties involved and often leads to expensive litigation against the trustee.
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