Have you ever wondered what goes into a trustee’s decision to pay a bill?  It’s not just a question of money.  Like every discretion exercised by a trustee, it is a weighing of options and a balancing of duty v. prudence.
This presentation will discuss:

1. The derivation of the trustee’s power and its duty to preserve trust property
2. How does fiduciary ownership intersect with the power to pay expenses?
3. What are the common administrative expenses?
4. What are the limitations of the power to repair or improve property, employ agents, and engage agents at the trust’s expense?
5. What are costs of litigation should be borne by the trust, the trustee or the beneficiaries?
6. Risk mitigation to insure against improper trust expense management.
7. What does the Uniform Principal and Income Act say about the proper allocation of expenses to principal and income?
8. How can a trustee determine what law applies to the allocation of principal and income in this particular trust; and
9. What unique situations arise when paying trust expenses and how can a trustee navigate these concerns prudently.

An analysis of the various types of expenses incurred by trusts;

Discussion regarding how to handle services engaged by a co-fiduciary;

Discussion regarding when a third-party direction may be needed for certain expenses;

A discussion regarding when it is appropriate for the trustee to pay its expenses from the trust fund; and

A discussion regarding the allocation and apportionment of trust expenses.

There will be no CE for this webinar


For those who have a conflict with the date/time, The session will be recorded. Simply register and you will have unlimited access to the recording.

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