Payment of Attorney’s Fees by Trustees
Acting as a trustee can be a tough job. Trustees can find themselves tasked with fulfilling complex legal duties, managing significant assets, constantly communicating with difficult beneficiaries and balancing competing trust interests. The trustee role is inherently vulnerable and subject to scrutiny, and that scrutiny is increasingly leading to more litigation. In recent years, trust litigation (both meritorious and frivolous) has grown and, with the impending arrival of the great wealth transfer, shows no signs of slowing down.1 This increase in trust litigation is placing trustees, particularly individual trustees, at greater personal and financial risk.
The Uniform Trust Code (UTC), adopted in whole or in part by many states, provid…