Alfred Ip and Kerby Lau share their experience working as a team in many contentious trusts & estate matters, touching on the initial motivation to embark on legal careers.
They go on discussing the role of administrators, executors and trustees and their duties, highlighting the possible pitfalls and ways to manage conflicts, which sometimes can potentially lead to the removal of administrators. They also discuss responsibilities related to investment strategies and asset valuation and conclude talking about the importance of proper estate planning as a necessary tool to avoid future disputes and costly litigation.
SHOW NOTES:
00:01:16 Trust and estate administration and problem-solving
00:11:39 Estate administration and fiduciary duties
00:18:29 Managing conflicts of interest in estate administration
00:24:19 Conflicts and removal of administrators
00:30:03 Assets valuation and investment strategies
00:45:54 Trustee duties and disputes amongst beneficiaries
00:55:23 Estate planning as key factor to minimize the risk of future dispute
More on Contentious Trusts & Estates: https://www.hugillandip.com/legal-services/contentious-trusts-estates/
