A successor trustee is the individual named in a trust document to step in as trustee in the event of the original trustee’s death, incapacitation, or resignation. A successor trustee assumes the role of safeguarding the...more
Managing the assets left in a trust is a major responsibility: It’s your job to properly manage and administer trust assets to the letter—or potentially face costly legal consequences. In the instance of a lawsuit, trustee...more
Looking ahead at the investment advisory industry, three trends stand out: an increase in the number of investment advisors, expansion of investment firm services, and a growing population of trust clients.
In this...more
Market volatility and heightened tax uncertainty have caused increased interest in private placement life insurance (PPLI) in recent years. However, those same factors have led to increased scrutiny for high-net-worth...more
It doesn’t matter whether the trust you manage owns commercial or residential real estate—the challenges are the same. The property’s location, value, and construction only determine the extent of these challenges. In this...more
A family office is a private organization designed to help a high-net-worth family manage its wealth. A family office can exist as a stand-alone entity or in an embedded structure within a family business. In this article,...more
A client recently told me about a conversation he’d had with an institutional co-trustee. The co-trustee was pushing back on the approval of a trustee liability policy. The institutional co-trustee’s reasoning was that most...more
If you have been asked to serve as a trustee, you no doubt have questions about the duties and responsibilities of the role. You also should be clear on your trustee insurance coverage. Unfortunately, some confusion exists...more