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Trustee Liability Insurance - Manhattan & Westchester County, NY, Fairfield County, CT & New Jersey

One of the most important decisions made in the preparation of estate and financial plans is the designation of a personal representative under a will and a trustee under one’s trusts. In many cases, it may be a relative or child or a trusted family advisor. You may have been designated the trustee in your parents’ estate or for that of your brother’s or a close, longtime friend.

As a trustee, you’re responsible for decisions regarding the investment of assets and for the accounting, filing of tax returns, compliance with trust terms, distribution to beneficiaries, and compliance with laws. With this responsibility come significant liabilities, including but not limited to breach of trust of fiduciary duty, losses arising out of the unauthorized delegation of responsibilities or losses arising from unfavorable investments made by the trustee and failure to distribute trust assets to beneficiaries entitled to such distributions.

To protect against these and other exposures, it is prudent to secure Trustee Liability insurance, a type of professional liability or error and omissions insurance that protects you against a wide variety of claims that can arise from the management or administration of trust assets brought about by beneficiaries, creditors and others.

At A.J. Benet, we can provide you with trustee liability coverage, whether you’re serving as trustee on a revocable living trust, irrevocable trust, family/exclusion trust, charitable remainder trust, testamentary trust, liquidating trust, or guardian of the estate and receivership trust. We have the breadth and depth of experience to provide you with the appropriate solution in helping you mitigate the risks you face as a trustee.

Carry out your responsibilities backed by insurance protection.

Accepting the role of a trustee should not be taken lightly. As with all professional services, there are exposures and liabilities inherent in this role. Give us a call at (888) 639-4560, email us, or return the form on this page, and one of our advisors will discuss with you how you can protect yourself.

Since 1964, A.J. Benet has been serving individuals, residents, and businesses from Manhattan to Westchester County in New York, Fairfield County in Connecticut, and New Jersey.