" ... discusses the increasingly risky business of serving as trustee or personal representative. Fiduciary litigation is on the rise as beneficiaries discover they, like the rest of society, may seek redress in the courts for actual or perceived wrongs. Fiduciaries have a duty of loyalty, a duty to invest reasonably, and a duty to diversify, among others. These so-called internal duties are owed to those possessing the equitable or beneficial interests in the trust property or in the probate estate, as the case may be. A trustee or personal representative also may be subject to liability to third parties for contracts made and torts committed while in office, and to the state for running afoul of its tax, securities, and banking laws. This Portfolio provides an overview on fiduciary duties, together with strategies to avoid and, if preventive measures fail, to prepare for litigation."
"Integrating and revising in part, 853 T.M., Fiduciary Liability of Trustees and Personal Representatives, by Charles E. Rounds, Jr., Professor of Law, Suffolk University Law School, Boston, Massachusetts."
Formatted Contents Note
Detailed analysis. Introduction The state of the law Duty of investment Duty of Loyalty Duty of impartiality Other duties External liabilities of fiduciaries Remedies Defenses Risk management Court actions to avoid lawsuits Working papers.
Digital File Characteristics
Merger of: Fiduciary liability of trustees and personal representatives, and: Managing litigation risks of fiduciaries.
Source of Description
Description based on contents viewed on October 23, 2017; title from description page.
Available in Other Form
Print version: Horwood, Richard M. Managing fiduciary liability. Arlington, VA : Tax Management, -