Categories: Articles, Appraisals / Valuations, Insurance, Resources for Attorneys, Resources for Experts, Working With Experts Trustee Duties When Overseeing Irrevocable Life Insurance Trusts TASA ID: 22346 It is well settled that all trustees must act prudently in fulfilling their duties. However, not all trustees possess the same skills to administer a trust properly for the benefit of those beneficiaries. This is especially true regarding trustees of life insurance trusts. Professional trustees have policies and procedures that govern the administration and management of the trusts they oversee. Complete and accurate recordkeeping is one of the fundamental duties trustees must undertake. Additional responsibilities include maintaining an administration file detailing any discretionary decisions and the basis for those decisions. Download the full artilce below. Previous Article The Disruption of Generative AI in Expert-Driven Media Platforms Next Article Successful Remote Work Requires Investment into Culture Print Tasa ID22346 Documents to download comments_on_trustees(.pdf, 113.82 KB) - 9 download(s)
