Trustee

Why North Carolina Trustees Should Acquire Liability Insurance

Posted on: January 25th, 2017
Without liability insurance, trustees remain personally accountable for trust administration mistakes. Certain insurance policies help to manage trustee liability. These errors and omissions insurance policies for trustees provide coverage in the event that claims, lawsuits, or damages occur as a result of the trustee’s actions or inaction....

Types of Trust Beneficiaries

Posted on: June 10th, 2016
Primary, contingent and remainder trust beneficiaries have different rights as beneficiaries. Who has the right to bring a claim against the trustee of a revocable living trust?...

Rights of Trust Beneficiaries

Posted on: June 7th, 2016
Trust beneficiaries have legal rights detailed in the trust documents and governed by state and federal trust code. If problems have resulted from a negligent trustee, or the trustee fails to adequately address issues brought to his or her attention by the beneficiary, it might be time for the beneficiary to reach out to a trust attorney and, potentially, the courts for corrective action....

Dave Ramsey Might be Misinformed About Living Trusts

Posted on: May 7th, 2016
Financial guru Dave Ramsey shares advice regarding managing debt and finances with millions of people. However, one of his books makes a broad statement about living trusts that is not entirely true....

Changes to North Carolina Trust Code Affect Estate Planning

Posted on: September 22nd, 2015
In August 2015, the Act to Amend the Law Governing Estate Planning and Fiduciaries (Senate Bill 336) was enacted to modify North Carolina’s Uniform Trust Code. The Act sets forth new provisions regarding trustee duties and liability, trust decanting, guardianship, and living probate....

3 Reasons to Choose a Non-Family Trustee

Posted on: May 25th, 2015
Creating a trust generally involves the intention of preserving assets for loved ones. Benefiting from a trust’s preservation might not be possible if the trust is not maintained properly. ...
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