Trust Administration

When you create a trust, you must pick a trustee to manage the assets. The trustee has a duty to manage the assets for the benefit of the designated beneficiaries, and this can be a serious responsibility. Depending on the terms of your trust and the assets involved,...

Many New Yorkers use trusts as vital parts of their estate plan. And of course, each trust requires the appointment of a trustee. What happens if the person who makes the trust (the “settlor”) makes a vital mistake in managing the trust? Can the trustee be removed?...