What to Look for When Choosing a Trustee
Honesty and integrity are two qualities of a trustee that you should look for when picking one to oversee your estate. While you may want a friend or family member as a trustee, that may not be the best idea. Let’s take a look at what you should consider when choosing someone to oversee a trust either while alive or after you pass on.
Does This Person Understand Your Needs?
The most important thing that a trustee will do is ensure that your final wishes are met after you pass. In the event that you become incapacitated, you need to be sure that your trustee understands how to handle your assets while alive. It may seem logical to choose close friends as trustees or family members as trustees since they know you the best. While this may be the case for most, be sure that they understand what the role entails and who they can turn to for help if necessary.
Is This Person Capable of Making Tough Decisions?
There are portions of a trust that may use vague language in an effort to give a trustee some leeway. For instance, it may stipulate that a beneficiary can access money in the trust for important purposes without specifying what those purposes may be. Therefore, this person will need to balance out the needs of the beneficiary without doing something that the creator of the trust would likely not want to happen.
An Attorney Can Help Make Those Tough Calls
Those who are having a hard time making a decision may want to talk with a trust administration lawyer in Las Vegas. Doing so could help a person take action that helps to provide for the needs of a beneficiary without interfering with a deceased person’s last wishes.