Choosing the trustee of a trust is a major decision that can have excellent or devastating consequences for your estate plan. Therefore, it is critical that you consider different scenarios when selecting a trustee. Today’s episode will provide insight so you can choose the best person.
Estate planning and the various decisions that accompany it can be overwhelming. Today’s episode, “The Right and Wrong Trustee of a Trust,” is designed to simplify the process.
Wealth Inside and Out®
Podcast: “The Right and Wrong Trustee of a Trust”
In this episode, you will learn:
>> (3:15) What is a trustee?
>> (6:17) Why including a financial advisor on your team is so important
>> (8:25) Pros of having a family member as your trustee
>> (11:29) A critical mistake you want to avoid when choosing a trustee
>> (18:10) The ongoing responsibilities of a trustee
>> (22:48) The advantages of having a corporate trustee
>> (28:55) A real-life example of a nightmare trustee
>> (31:47) One of the biggest factors in choosing your team
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Conclusion — “The Right and Wrong Trustee of a Trust”
Finding the right person to distribute your assets according to your wishes as specified in your trust is critical. Today’s episode will provide you insight into what to do, what you should avoid, and why.
Careful planning and properly vetting the person you want to serve as trustee is crucial to your estate plan’s success.
For more advice, please listen to the full episode.
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To your financially secure life,
Annette
