Governance Articles

It’s harder to be a trustee than to go down steps on a pogo stick

The Problem: You are a trustee. You said "Yes" when a family member, close friend, or client asked you if you would serve as their successor trustee. Now, the settlor...
Fish without a hook

Anatomy of a Trustee Lawsuit

Twice in the last 30 days we have gotten calls from attorneys who are representing trustees being sued by disgruntled beneficiaries. The fact patterns for these two projects were almost...
prudent administration for a trustee

UPIA §2(c)(6) re Other Resources of the Beneficiary

The Conundrum: Question: Should the investment policy and distribution rate from a trust be informed by assets held by the beneficiary that are outside the trustee’s responsibility or control?   Predictably...
Wholesale v Retail

Will ERISA Trustees ever learn? or “I guess they aren't that smart at Princeton”

The Duty: An ERISA trustee is obligated to know who is being paid what by whom and whether the fees being paid are fair and reasonable. This duty is implicit...