There’s Still Time to Make that New Year’s Resolution: Get Your Records Retention Plan in Place

more+
less-

No one wants to start the New Year thinking about conflict but fiduciaries balance many, often competing, interests every day and the potential for conflict is real. Fiduciaries can minimize the likelihood for conflict by institutionalizing regular communications with beneficiaries, advisors and other third parties. Keeping detailed documentation of these communications is equally important and may mitigate the potential for liability if litigation cannot be avoided. Moreover, preserving these documents is required when a fiduciary has notice of the potential for litigation.

Often, the value of records retention plans becomes apparent too late – for example, after a lawsuit has been filed or a subpoena has been served. Planning now for these events can save you countless hours searching for and collecting records, not to mention the expense of professional help or the prospect of sanctions if records that should be retained are lost or destroyed.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

more+
less-

Partridge Snow & Hahn LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×