This is an important position of honor and trust. It shows that the trust’s creator thinks highly of you and your character.
But what happens when you become responsible for administering a trust? You might assume that because the revocable living trust avoids the costs and hassles of probate, there is not much after-death administration.
Compared to probate, there isn’t. However, tax and fiduciary laws still apply. Pitfalls still abound, and they can cost you a fortune.
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