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Don’t Overlook a Trust’s Material Purpose

Skipping this important step could unravel your nonjudicial settlement agreement.

The majority of jurisdictions now allow for trust beneficiaries and fiduciaries to resolve trust matters by consent through the use of a nonjudicial settlement agreement (NJSA).1 Resolving a matter by NJSA is almost always more expedient and cost effective than petitioning a court. Additionally, virtual representation statutes have made it possible to obtain the consent of all beneficiaries. As a result, the demand for NJSAs has dramatically increased in recent years. Rarely does a

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