Who is Your Trustee?

If you have a Trust, you have a Trustee. Right now, most likely, the Trustee is you. You also have a successor Trustee who takes over when you (and your spouse, if applicable) can no longer serve. Having the right successor Trustee is very important.

A good trustee:

• Follows all of the instructions of the trust

• Won’t mix his or her money with that of the trust

• Is responsible, reliable, and trustworthy

• Can keep accurate records of all financial transactions

• Will maintain regular contact with all beneficiaries

• Won’t be afraid to seek legal counsel, if needed

• Will prudently manage assets until they’re distributed

• Is willing and able to handle the many duties that go along with the job

Serving as a Trustee is more than an honor to bestow on a trusted friend or family member—it is a responsibility that requires their time and attention. If you or your successor Trustee have any questions about the job, consider attending one of our upcoming Trustee School Workshops. They are free for our clients and their successor (or current) Trustees and are designed to explain what happens when that successor becomes Trustee. If you have questions about who you have named as your successor Trustee, give our office a call. We are happy to look at your file and let you know.