3 Duties of a Trustee

Understanding the Three Key Duties

When it comes to trust administration, a trustee has three primary duties: duty of loyalty, duty of prudence, and duty of impartiality. These duties are essential for safeguarding the trust’s assets and ensuring the beneficiaries’ interests are protected.

Duty of Loyalty

As a trustee, you have a responsibility to act solely in the best interests of the trust and its beneficiaries. This means avoiding conflicts of interest, refraining from self-dealing, and prioritizing the beneficiaries’ needs. Remember, it’s not about what’s best for you – it’s about fulfilling the trust’s objectives and meeting the beneficiaries’ expectations.

Duty of Prudence

When managing trust assets, you must exercise care, skill, and caution. This duty requires you to invest trust assets responsibly, maintain accurate records, and make informed decisions. Don’t know where to start? That’s where we come in! At Hess-Verdon & Associates, we can provide you with the expertise and guidance needed to manage trust assets with confidence.

Duty of Impartiality

As a trustee, it’s crucial to treat all beneficiaries fairly and impartially. This means avoiding favoritism and ensuring that each beneficiary receives their share of the trust assets as outlined in the trust document. It’s a delicate balancing act, but with our support, you can navigate this duty with ease.

Hess-Verdon & Associates: Your Trustworthy Legal Partner

Expertise in Estate Planning

Hess-Verdon & Associates is the go-to choice for unparalleled estate planning expertise. Our skilled attorneys have decades of experience in trust and probate litigation, ensuring that you receive the support and guidance needed to protect your loved one’s legacy.

Trust and Probate Litigation

Our dependable and sophisticated approach to trust and probate litigation has earned us a reputation for excellence. We’re committed to providing comprehensive, results-oriented legal counsel to trustees, beneficiaries , business entities, and real estate partners, ensuring that your interests are always protected.

Over Three Decades of Experience

With over 30 years of experience in estate planning, business, and commercial litigation, Hess-Verdon & Associates has the knowledge and expertise you need during these challenging times. Our extensive background in trial preparation, strategy, and presentation ensures that your case is in good hands.

Conclusion

In conclusion, understanding and fulfilling the 3 duties of a trustee – loyalty, prudence, and impartiality – is essential for the proper administration of a trust. With the help of Hess-Verdon & Associates, you can confidently navigate the complexities of trust and estate management. Call us today at 1-888-318-4430 to discuss your unique situation and learn how we can provide you with the support and guidance you need.

FAQs

Q: What is the duty of loyalty in trust administration?
A: The duty of loyalty requires a trustee to act solely in the best interests of the trust and its beneficiaries, avoiding conflicts of interest and self-dealing.

Q: What does the duty of prudence entail?
A: The duty of prudence requires a trustee to manage trust assets responsibly, maintain accurate records, and make informed decisions, exercising care, skill, and caution.

Q: How does the duty of impartiality apply to trustees?
A: The duty of impartiality requires a trustee to treat all beneficiaries fairly and impartially, avoiding favoritism and ensuring each beneficiary receives their share of the trust assets as outlined in the trust document.

Q: Why should I choose Hess-Verdon & Associates for my trust and probate litigation needs?
A: Hess-Verdon & Associates offers unparalleled estate planning expertise, a dependable and sophisticated approach to trust and probate litigation, and over three decades of experience in the field. Our commitment to delivering comprehensive, results-oriented legal counsel sets us apart as a trusted legal partner.

Q: How can I contact Hess-Verdon & Associates?
A: To get in touch with Hess-Verdon & Associates, call us at 1-888-318-4430 to discuss your unique situation and learn how we can help you with your trust and probate litigation needs.