Trustee Representation and Trust Administration
Trustees are fiduciaries and therefore have certain duties and obligations they are required to meet. Some of these duties and obligations are mandated by the terms of the trust document itself, and others are required under Colorado’s laws governing trusts. Failure to comply with these duties and obligations, even if the trustee was acting in good faith, could potentially result in some instances in the personal liability of the trustee. Given the complexity of the law in this area, it is highly advisable to seek the advice of an experienced trust and estate administration attorney.
Dennis E. Valentine has significant experience in the area of trust administration, and can advise you on any issue arising during the administration of a trust, including:
- The duties, powers and standards of a trustee
- Investing and managing trust assets
- Resignation or removal of a trustee
- Modification, revocation or termination of a trust
- Trustee accounting and recordkeeping
- Creditor’s rights against the trust or beneficiaries
- Trustee compensation and attorneys’ fees
- Administering a trust after the death of a settlor
- Subtrust funding
- Income taxation of trusts and estate tax returns
Representation of Trust Funds
Dennis E. Valentine has represented nonprofit trust funds for many years. These trust funds are typically created by organizations to provide health, pension, and other benefits to employees of a specific employer or to members of an organization. These trust funds must comply with a variety of federal and state laws as well as the trust documents and plan of benefits. He provides continuing advise and assistance to the trustees of these trust funds.
Representation of Conservators, Guardians, and Agents under a Power of Attorney
Mr. Valentine regularly advises and represents conservators, guardians, and agents under a power of attorney regarding their fiduciary duties, responsibilities and obligations. Conservators and guardians are subject to court supervision, and require strict adherence to reporting and other legal requirements. Powers of attorney are private documents, and agents acting under a power of attorney are generally not subject to court supervision. However agents still have reporting and other legal obligations to the principal who created the power of attorney and must exercise due care and diligence in their management of the principal’s assets.
Experienced Representation of Fiduciaries in the Denver Metro Area
The decision to serve as a trustee, conservator, guardian or agent carries many legal responsibilities, duties and obligations, and should not be taken lightly, as fiduciaries are subject to constant scrutiny and potential attack and litigation by other parties. For experienced advice and representation in the Denver metro area, contact Dennis E. Valentine, Attorney, for a free consultation.