Q&As

What rights do PRs/Trustees have to retain estate assets to meet potential liabilities instead of distributing them all to a beneficiary who is requesting them? Is it advised that assets are retained to meet potential liabilities?

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Published on LexisPSL on 09/10/2019

The following Wills & Probate Q&A provides comprehensive and up to date legal information covering:

  • What rights do PRs/Trustees have to retain estate assets to meet potential liabilities instead of distributing them all to a beneficiary who is requesting them? Is it advised that assets are retained to meet potential liabilities?

What rights do PRs/Trustees have to retain estate assets to meet potential liabilities instead of distributing them all to a beneficiary who is requesting them? Is it advised that assets are retained to meet potential liabilities?

The personal representative (PRs) of a deceased person’s estate or the trustees of a settlement have personal liability for any losses to the estate or the trust, capped at the value of the estate funds or trust funds.

The

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