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When it comes to trusts, choose trustees wisely

| Mar 17, 2020 | Trusts |

When estate planning, it can sometimes seem as if there are more questions than answers. However, asking certain questions can help California residents ensure that they make the best choices for their plans. For example, individuals utilizing trusts as part of their plans may want to ask certain questions before choosing trustees.

First, parties may want to determine whether the person they want to act as the trustee is qualified to take on the role. A lot of work can go into managing a trust, and even if a trustmaker has someone in mind, that candidate may not actually be the best fit. Additionally, even if the person is qualified, the trustmaker may want to ask whether the candidate is willing to act as a trustee. Some people do not have the time or desire to take on such an important position.

It is also necessary to consider the potential repercussions of naming a certain person to the role. For instance, naming one child to act as a trustee when a person has multiple children could spur sibling rivalry and more conflict than intended. Even if one child is more qualified for the role, it may be worthwhile to consider an outside party to avoid family squabbles.

Choosing a trustee is a detail that should not be taken lightly. This person will have a considerable amount of power over certain assets, and California residents certainly do not want to make the wrong choice. It may be wise to go over the details of their trusts and available candidate options closely before making a final decision.

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