Every state that recognizes trusts as a legal entity imposes fiduciary duties upon the Trustee of such trust. These duties may have different names in different jurisdictions, but ultimately a breach of fiduciary duties means that the Trustee has failed to do what is required of them under the terms of the trust instrument and local law. This third and final part of a three-part series examines a case ripped from the headlines that highlights what happens when plans go awry. Read on to learn more.
Michael J. O’Brien is a practicing attorney and a founding partner of Cleveland-based The O’Brien Law Firm LLC. Mr. O’Brien’s firm emphasizes estate and trust planning and administration, probate, corporate planning, family business, family limited partnership and charitable trust and private family foundation planning Read More!
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