Tuesday, July 28, 2009
Trust Administration Documents
Recently a long time client came to me about a problem with a trust that they administered 10 years ago. It seems one of the beneficiaries is now looking for more money. The problem is the trust was closed out 10 years ago but the court is asking for the closing documents so it can dismiss the case. The documents have been hard to find and some are just missing. The lesson here is to be sure you keep all documents if you ever are called on to be a trustee or work on the administration of an estate. How long? Well, here 10 years was not long enough. Sure, this court should have dismissed the case but it did not. You just never know.
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