Trust Administration in Volatile Markets

By WealthCounsel Staff on Feb 12, 2021 10:00:00 AM

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“Stock prices have reached what looks like a permanently high plateau.”

—Irving Fisher, New York Times, October 16, 1929

We all know what happened on October 24, 1929, just eight days after Professor Fisher’s bullish prediction, when the Wall Street Crash ushered in the Great Depression, ruining the great economist’s reputation. In hindsight, it is easy to spot the irrational exuberance exhibited in the run up to the greatest economic crisis in modern times. However, the fact remains that Professor Fisher was far from the only economist who expressed this opinion.

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Demystifying Trust Administration: A Guide

By WealthCounsel Staff on Oct 16, 2020 10:00:00 AM

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Many estate planning attorneys choose to expand into the practice of trust administration to provide additional legal services to their clients and increase profits in their law firms. As an estate planning attorney, you may initially encounter trust administration when a long-time estate planning client passes away and the family turns to you, as the trusted legal advisor, for help. Or potential clients may find you online while searching for a trusts and estates attorney because they need help handling the legal issues surrounding their deceased loved ones’ final affairs.

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Managing Risk in Trust Administration

By WealthCounsel Staff on Aug 21, 2020 10:00:00 AM

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Offering trust administration services can be highly profitable and rewarding for your law practice. Attorneys providing legal services to fiduciaries in postdeath administrations can deliver more holistic “cradle to grave” care for estate planning clients and receive an additional steady source of income. However, this area of law is not without risks—the amount of time, attention to detail, and competence required in guiding fiduciaries through the administration process can leave an attorney vulnerable to malpractice claims and unhappy clients. 

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