High-wire act: exercising fiduciary discretion in an uncertain and increasingly litigious world
The International Family Offices Journal
Vol. 4 - Iss. 2 pp. 18–25
Families with trusts understand the challenges facing trustees when beneficiaries request certain distributions. Daniel FitzPatrick, New York, who has extensive experience at many levels of trust management, including at the highest global level, explains the inner workings of trustee management of discretionary distributions. He gives three detailed case studies of what can go wrong for personal trustees. He also includes a list of support materials and helpful references.