158: Avoiding Trustee Liability: Critical Steps Before Distributing Assets

Absolute Trust Talk

Being named a trustee is a significant responsibility that demands careful attention, time, and effort—and missing critical steps can lead to complex legal consequences. In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert delve into real-life cases where trustees overlooked essential duties. They discuss three crucial questions every trustee must ask before making final distributions:

1. Have I done everything necessary concerning income taxes?

2. Is there a supplemental property tax bill coming?

3. Do I need to provide an accounting to the beneficiaries?

With practical guidance on navigating these often-missed steps, Kirsten and Jessica equip trustees with the knowledge to handle their responsibilities smoothly and avoid personal liability. Whether you're a current trustee or might become one in the future, this episode is packed with essential insights you won't want to miss.