Page 10 - Successor Trustee Handbook
P. 10
Don’t deal directly with the IRS (or any other tax authority) or with an attorney
representing someone else. Have a qualified professional do it for you.
Don’t procrastinate. Do not wait until the last minute to do things, especially
when you may be required to gather information for your attorney or CPA; do it
well in advance of important deadlines.
Don’t ignore phone calls, faxes, e-mails and other forms of correspondence from
beneficiaries or their legal counsel. Don’t avoid them just because you don’t like
dealing with them or may think that you are in trouble or some conflict may arise.
Responding promptly, fully and truthfully to questions and requests will often
result in resolving potential trouble or conflict before it arises.
Don’t act alone, if there are other Co-Trustees, unless you have their proper
written agreement to do so.
Don’t just throw up your hands and give up when it appears that your Trustee
duties may be too overwhelming or too difficult. Remember, you can seek the
assistance of qualified professionals. Also keep this in mind - - many hundreds of
thousands of other Trustees have worked their way through the Trust
administration process...and survived!
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