One common example of trust liability, even without any intentional wrongdoing, is a successor trustees liability for unpaid debt, such as, taxes. Before trust assets are distributed to the named beneficiaries, the trustee must make certain that all debts are paid, especially tax liabilities.
If you have questions regarding your personal liability as a trustee, contact The Legacy Lawyers.
If you have been appointed to administer a trust, you are responsible for completing several tasks, and there is little room for error. Dont despair, however. We have helped hundreds of people in your situation. Just call to schedule your no-cost consultation: (714) 963-7543. We can minimize your stress, reduce exposure to personal liability and guide you through an orderly process.