Executing your estate plan: Selecting a Trustee

While minimizing taxes and planning for the eventual disposition of your assets are important aspects of estate planning, selecting the best people and/or organizations to carry out your wishes when you are no longer able is often one of the most difficult decisions. It is important to consider a number of factors including trust (will they honor your wishes), ability (do they have the knowledge and experience), and the willingness (proximity, time, desire, etc.) of those appointed in each role.

We are providing information over five weeks relating to the key roles that need to be filled.  This week’s article focuses on selecting a Trustee.

  1. Power of Attorney
  2. Executor
  3. Trustee
  4. Estate Planning Attorney
  5. Health Care Agent

Appointing the proper people in these roles (and reviewing this regularly) allows you the opportunity to put several layers of protection in place, especially as estate situations become more complex.