BBA Event Recap: Trust Owned Real Estate – Navigating the Administration Issues

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Program Date:  Wednesday, November 9, 2016

Panelists: Liza Connelly of Boston Private and Stacy K. Mullaney of Fiduciary Trust Company.

Program Chairs:  Liza Connelly of Boston Private and Stacy K. Mullaney of Fiduciary Trust Company, co-Chairs of the Trust Administration Committee

Materials:  To view the program materials, click here.

Summary of Program Topic:  This program covered the myriad of issues facing trustees who hold real estate in irrevocable trusts such as issues on trustee succession, insurance, expense allocation between trust and beneficiary-occupant and between trust income and principal, and the obligation to obtain “highest and best” price in a sale of real estate.  The panelists discussed the issues facing trustees when administering trust-owned real estate and how to avoid potential pitfalls in both the administration and the sale of real estate.