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Being a Fiduciary in the Age of UncertaintyBeing a Fiduciary in the Age of Uncertainty
The interplay among tax laws, investment performance and a beneficiary's wellbeing shapes a fiduciary's responsibilities. When a trustee distributes assets from a trust to meet a beneficiary's needs, the question of how to satisfy that distribution requires a deep understanding of the appropriate federal and state income and transfer tax laws, as well as the economic environment. While these crucial
January 1, 2012
Gail E. Cohen
The interplay among tax laws, investment performance and a beneficiary's wellbeing shapes a fiduciary's responsibilities. When a trustee distributes assets from a trust to meet a beneficiary's needs, the question of how to satisfy that distribution requires a deep understanding of the appropriate federal and state income and transfer tax laws, as well as the economic environment. While these crucial factors, which dictate a fiduciary's responsibility, have always been hard to forecast, they've become virtually impossible to predict in the current economy. Rumors and speculation drive tax planning; the markets have experienced unprecedented levels of volatility and understanding and planning for a beneficiary's needs have bec...
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