Practice Management

There Will Be Litigation

The wonderful power to adjust bestowed upon trustees by the Uniform Principal and Income Act (UPIA) has a dark side: lawsuits filed by beneficiaries unhappy with the results of those decisions. Most states' UPIA statutes are rather new, so the potential for challenge has not yet been realized. But today's difficult economic climate greatly increases the risk that there will be litigation. Indeed,

Shari A. Levitan, Howard J. Castleman | Dec 01, 2008

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The wonderful power to adjust bestowed upon trustees by the Uniform Principal and Income Act (UPIA) has a dark side: lawsuits filed by beneficiaries unhappy with the results of those decisions. Most states' UPIA statutes are rather new, so the potential for challenge has not yet been realized. But today's difficult economic climate greatly increases the risk that there will be litigation.

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