by Dan Felix | Jul 4, 2023 | Successful Trust Administration
Many in the trustscape use— or at least, have heard of— an Investment Policy Statement (“IPS”). The IPS articulates the approach of the trust for investment of its financial assets, and can cover the nature of the investments, risk tolerance, the targeted return, the...
by Dan Felix | Jul 4, 2023 | Successful Trust Administration
Trust Accountings: financial communications One of the under-appreciated functions of the trustee is as a communicator. Communication opportunities flow from his multiple roles: in investing, in spending, and in taking care of any of a range of projects which the...
by Dan Felix | Jul 4, 2023 | Successful Trust Administration
The attorney delivers the long, detailed trust document. But does the trust creator understand the nuts and bolts of how it works? More critically, does the trustee— who has to administer and manage the trust— understand it? And what about the beneficiaries?...
by Dan Felix | Jul 4, 2023 | Successful Trust Administration
Decreased capacity of the principal means increased complexity and responsibility for the financial fiduciary The financial power of attorney— typically called the “power of attorney for property”— is often considered of lessor importance in estate transitions....
by Dan Felix | Jul 6, 2023 | Successful Trust Administration
Trustees Won’t Be Successful Tripping Over These Traps 1 ~ Lack of Communication: Excellent communication is the most underrated of trust tasks and one of the most essential for trust success. Keeping the stakeholders informed about what is going on is critical....
