The need to identify an individual or group of individuals to step in down the road as your successor trustee can be a daunting exercise. Some clients prefer to name a private fiduciary or corporate trustee in the place of a family member or friend for these reasons: • Appointing a corporate trustee alleviates family … Continued
In the simplest of terms, a trust is a financial arrangement that allows another person, known as the trustee, to hold assets for the well-being of a beneficiary. There are many benefits to creating a trust: privacy, control, legacy protection and tax savings. Once the trust has been created and funded, it is the trustee’s … Continued
In Part One of this series, we explored the six key qualities and characteristics to consider when selecting the executor and successor trustee for your estate. In Part Two of this series, we will next explore the various types of executors and successor trustees available. You may be surrounded by loved ones and have many … Continued
One critical component of a solid estate plan is the named successor trustee(s) and executor(s). This is the person (or people) who will safe-guard and carry out your wishes at death. Every situation is different and there is no one-size-fits-all solution, however there are some universal considerations that may help you organize your search for … Continued
Every family is different. Some are very open, sharing details about nearly everything in a loud boisterous manner; others are more reserved and less comfortable revealing personal information. No matter what your family dynamic, there comes a time when it is important to share some details with your adult children or the family members who … Continued
While it is commonplace for our clients to craft thorough estate plans and trusts with focus on attorneys and legal documents, the follow up process of engaging and educating the successor generation is often overlooked. By actively discussing your intentions with family members or an executor tasked with settling your estate, you can gain significant … Continued