Part I — When someone agrees to become the trustee of a trust, he or she will need to be aware of and plan for several risks, not only for themselves, but also for the beneficiaries and the trust itself. Even experienced trustees can be faced with stormy seas that are not easy to navigate.
Thankfully, The Private Trust Consortium (PTC) provides the tools and resources its member trustees need to survive and thrive in their fiduciary roles. This includes Trustee Liability Insurance especially designed for our members which protects both the trustees and the beneficiaries and trusts they serve. In Part I I want to briefly highlight the 10 most common risks encountered by most trustees. In future articles I will bore down for a more in-depth analysis of each risk.
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