Attended San Mateo County Estate Planning Section Discussion About Trust Health, Education, Maintenance And Support Payments

Just a short note of interest. On Thursday I attended the monthly San Mateo County Bar Association Estate Planning and Probate Section monthly seminar luncheon. This one was about health, education, maintenance and support payment provisions in trusts. A very good discussion and good speakers. The handout materials were excellent. In particular the speaker from Trust and Fiduciary Services at Boston Private Bank & Trust Company gave an excellent discussion as she related the materials to actual cases and situations. These provisions can raise challenging issues for trustees, including, for example, how to gather information about and evaluate whether to pay for a particular expense based on what the expense, activity or event is, the trust wording and trustor intent, other options available, the beneficiary’s resources and needs, and the other assets in the trust and the other beneficiaries. These situations can lead to litigation and trustee liability. Risk management, due diligence, and various prudent options for handling these situations should be considered.

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