Limiting Liability Exposure for a Private Family Trust Company

Overview

A Private Family Trust Company (PFTC) should be aware of its potential for liability and the ways in which liability can be limited or controlled. This article offers a broad overview of steps a PFTC should consider in assessing and controlling its liability exposure, including following the prudent investor rule, the duty to inform and report, and the separate agreement between the PFTC and trust beneficiaries.

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