David F. Johnson presented “Trustee’s Obligation to Inform Beneficiaries: Avoiding Breach of Fiduciary Duty Claims” to a national audience on November 16, 2021, via Strafford publishing with his co-presenter Scott E. Rahn, founder of RMO LLP. A critical obligation for trustees of irrevocable trusts is the duty to inform beneficiaries of the trust’s existence and activities. Trustees often face claims of breach of fiduciary duty for failure to comply with these responsibilities. Inconsistencies between the trust document and the applicable state law frequently complicate compliance. This presentation addressed a trust’s ability to expand or narrow the duty to disclose, statutory provisions dealing with the duty to disclose, demands for accountings, common law duty to disclose, disclosure duties in litigation, quiet trusts, ramifications for non-disclosure, and methods to avoid breach claims.
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