Trustee Headaches in General

• Author: Seymour Goldberg
• Profession: Senior partner in the law firm of Goldberg & Goldberg, P.C., in Woodbury, New York
• Pages: 1-1

Being selected as a trustee is considered by many to be both an honor and

a privilege. It also means authority and power. Obviously, any discretion

delegated to a trustee must be exercised in a proper manner and in an

impartial way. Naturally, holding the position of a trustee will also result

in trustee commissions to the trustee.

The problems facing a trustee may take place in a silent and strange

way. As an author, I have found that trustees face unforeseen difculties.

In many instances, the difculties are thrust upon the trustee without the

trustee’s knowledge.

One point that must be emphasized is the need for the trustee to read

the trust instrument. The trust document may be ve pages long or 50

pages long. In any event, the document must be read and understood.

I suggest that the individual trustee should read the trust document

several times and then have it explained by a knowledgeable trust attorney.

Often, the trustee looks at the trust document and may not fully under-

stand the provisions it contains. If the trustee does not follow the terms

of the trust document, then he or she has made a rst mistake. This mis-

take can subject the trustee to problems with the trust beneciaries at a

later date.

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TRUSTEE HEADACHES

IN GENERAL