Divided Duties

Divided Duties

Shelton v. Tamposi clarifies roles of trustees and investment advisors

Trust law traditionally required trustees to be jacks of all trades, responsible for a panoply of job descriptions from bookkeeper to investment manager to family counselor. The drawback of the do-it-all trustee role is that it often fails to advance the purpose of the trust. It puts specialized tasks—such as the management of family business assets—in the hands of a trustee, who may not always be the most qualified individual for each parti

All access premium subscription

Your subscription will include 12 months of Trusts & Estates magazine and access to premium content on WealthManagement.com.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish