When Does It Make Sense to Hire a Corporate Trustee?

Establishing a trustee of your trust is an important situation to consider carefully. The right individual will have a significant impact on your beneficiaries in the future. It might initially seem simple to choose a sister or a brother as the trustee and that person may even be technically the most qualified for the job, however, you could put them in an uncomfortable position when dealing with your loved ones. This might cause you to think about hiring a corporate trustee. 

This makes it easier for an impartial third party to manage concerns when your heirs come asking for money. While a corporate trustee does come at a cost, it may be better to preserve the family peace rather than putting an aunt or an uncle in the awkward position of turning down his or her niece and nephews. Good estate planning is an essential component of any good financial plan and the selection of a proper trustee can make things easier for you as well as your loved ones.

If you have questions about how to establish a trust, fund it and select the right person to serve as a trustee, this is a good conversation to have directly with an estate planning lawyer. Setting up a consultation today will give you a broad overview of what’s involved and whether or not a trust appears to serve your individual needs- a California estate planning attorney can help.

 

 

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