The tricks of advising trusts

In a recent WSJ Wealth Advisor article, Trust Clients Can Be Tricky for Advisers, Matthias Rieker reports that financial advisors need to develop an understanding of each trust they assist, including the terms of the trust, the desires of the beneficiaries and the practices and needs of the trustees.  In many cases, it is proper to consult with both the trustees and the beneficiaries but in other cases that would be improper or uncalled for.  By knowing the trust and the people involved, an adviser can better serve the beneficiaries and avoid unnecessary disputes.