Question

Frequent communication with the account beneficiaries is one of the keystones to quality personal trust administration. It is extremely important:

a. to run personal errands for account beneficiaries to save the trust money and endear yourself to beneficiaries.
b. to retain beneficiaries' good will, avoid potential problems and to stay abreast of their needs and concerns.
c. to have beneficiaries to lunch so that you, as the administrative officer, can charge it to the trust.
d. to send at least annual reports to all contingent remaindermen.

Answer 1

Frequent communication with the account beneficiaries is one of the keystones to quality personal trust administration. It is extremely important: ` to retain beneficiaries' good will, avoid potential problems and to stay`

The answer is option ⇒b

Step-by-step explanation:

Regular and open communication with the account beneficiaries is crucial for several reasons:

• 1. Retaining beneficiaries' good will: By keeping in touch with the beneficiaries, you build trust and maintain a positive relationship. This can help prevent conflicts or misunderstandings and ensure their continued satisfaction with the trust administration.

• 2. Avoiding potential problems: Regular communication allows you to identify any issues or concerns early on. By addressing them promptly, you can prevent them from escalating into more significant problems that could disrupt the trust administration.

• 3. Staying abreast of needs and concerns: By actively listening to the beneficiaries, you gain a deeper understanding of their needs, goals, and any changes in their circumstances. This knowledge helps you make informed decisions and adjustments to the trust administration to better meet their requirements.

The answer is option ⇒b