Before Agreeing to Serve as Trustee, Carefully Consider the Duties and Obligations Involved—Part 2
Last week, we shared the first part of this series explaining the powers and duties that come with serving as trustee. Here in part two, we discuss the rest of a trustee’s core responsibilities.
Being asked to serve as trustee can be a huge honor—but it's also a major responsibility. Indeed, the job entails a wide array of complex duties, and trustees are both ethically and legally required to effectively execute those functions or face significant liability.
To this end, you should thoroughly understand exactly what your role as trustee...