Developments in Trust and Estate Administration and Fiduciary Liability
To be successful consistently, a fiduciary must have the skills and temperament to navigate turbulent waters with a steady hand. Fiduciaries frequently face risks and challenges from three, often conflicting, sources: the governing instrument; applicable state and federal law; and the beneficiaries.
- Areas of greatest hazard for fiduciaries
- Beneficiaries' consents, waivers and releases
- Statutes of limitations for bringing claims against fiduciaries
- Lawyer liability that may arise from advising beneficiaries or fiduciaries