Whether you are the trustee, settlor, or beneficiary of a private trust, changing circumstances over the passage of time can present unforeseen challenges to the ultimate fulfillment of the purpose of the trust. Such challenges can, rightly or wrongly, place trustees in personal financial peril due to liability for their negligent acts and omissions, not to mention diminishing the value of the trust before the beneficiaries receive its benefits. A recent example from the beautiful state of Hawai’I provides a sobering example of the pitfalls associated with trust administration.
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