Trust law traditionally required trustees to be jacks of all trades, responsible for a panoply of job descriptions from bookkeeper to investment manager to family counselor. The drawback of the do-it-all trustee role is that it often fails to advance the purpose of the trust. It puts specialized tasks—such as the management of family business assets—in the hands of a trustee, who may not always be the most qualified individual for each particular task. Thus, a notable recent ...
Purchase access to this article
Receive access to this article for 12 months online.
All Access Premium Content Subscription
Subscribing to premium content on WealthManagement.com will give you full access to all articles and media content for 12 months.