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Tips From the Pros: Third-Party Dealings With Trustees

Charles A. Redd explores issues that can arise in transactions involving a trustee and outside parties.

Experienced trusts and estates professionals ordinarily think of a trust as a relationship among a triumvirate of the settlor, the trustee and the beneficiaries.1 Quite often, however, parties not directly connected with a trust become immersed in aspects of trust administration. Transactions involving these outside parties, if not implemented with care, can be hazardous for all concerned.

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