Feb 02, 2015
Often, as estate-planning attorneys, we create irrevocable trusts for our clients. But
our job shouldn’t end there. We need to make sure our clients understand what’s in
the trust, what their responsibilities are regarding the trust and what the
responsibilities are of other individuals who have roles in administering the trust.
Here’s a sample letter you can adapt and send to your clients, which explains the
responsibilities of different parties in administering the trust. The catalyst for this
letter was a combination of: two presentations at the 2015 Heckerling Institute of
Estate Planning about trust protectors, John Porter’s discussion of IRS audits, and
Skip Fox’s ethics presentation.
Read his commentary here.
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