Choosing the trustee of a trust is a major decision that can have excellent or devastating consequences to your estate plan. Therefore, it is critical that you take different scenarios into account when selecting a trustee. Today’s episode will provide you with insight so you can select the best person.
Estate planning and the various decisions that come along with 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 on what to do, what you should avoid, and why.
Careful planning and properly vetting the person you think is right 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
