Lobb & Plewe Attorneys At Law

estate planning Archives

Trustees Responsibility when Trustee has Sole and Absolute Discretion

A trustee is bound by the terms of the trust agreement. The performance of his or her duties, including and especially making distributions to beneficiaries, must strictly comply with the trust terms. However, more and more trusts, especially those utilizing advanced estate, tax, and asset protection planning techniques, provide an independent trustee with sole and absolute discretion to make distributions of principal and/or income to the trusts beneficiaries. So how does a trustee exercise this discretion? Is the trustee free to do anything or are there restrictions?

Portman-Cardin bill includes IRA Preservation Act

Attorney Aaron Hegji of Lobb & Plewe, LLP, and a director of the Coalition For American Retirement (CFAR) is pleased to announce that legislation prepared by the CFAR is included in the Portman Cardin retirement savings bill (the Retirement Security and Savings Act) introduced by senators Rob Portman, R-Ohio, and Ben Cardin, D-Md.

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