One of the most common conversations I have with clients is centered on choosing a trustee for their Trust. If you have a Trust, this is something you should consider carefully, as your trustee is the person who will be in charge of dealing with the assets held in your trust after you pass away. Though I can never tell you exactly whom you should choose, I can tell you some qualities that an effective trustee should have. So, what should you be looking for in a trustee?
First and foremost, choose somebody you TRUST. Your trustee is responsible for carrying out your wishes after you’re gone and for making decisions that affect your beneficiaries. You, therefore, need to ensure that your chosen trustee is reliable and trustworthy.
Again, bear in mind that your trustee may need to make some discretionary decisions during the administration of your Trust, so make sure to choose someone who will make fair and informed judgments on important matters. Your trustee should also be able to handle the responsibility of making these decisions.
Finally, it is wise to choose a trustee who is responsible with money. Remember, your trustee is accountable for handling your assets after you’re gone. Your Trustee should have some financial acumen so as to carry out her duties competently.
Choosing a trustee is one of the decisions we work through together in Massachusetts estate planning.
Your Next Step: A Free 15-Minute Call
Choosing a trustee is easier with someone to think it through with. On a free 15-minute consult call, Nicole Ott, our Lead Intake Coordinator, will listen to what is going on, ask a few questions about who you are considering and what your trust needs to do, and help you figure out the right next step. If it makes sense to go further, she will explain what working with us would look like. There is no charge and no pressure, and you will come away knowing what to do next.
