The role of Trustee is an important one that involves strict fiduciary duties. The task of choosing a Trustee is a difficult one, a person should be careful to select someone who is trustworthy. A Trustee has many complex responsibilities, and will be actively involved with the beneficiaries for many years. The Trustee does not need to be an expert on legal and financial matters, but they should be trustworthy and possess common sense. The potential Trustee needs to understand their responsibilities and the liabilities they could possibly face. Some clients may consider hiring a Trust company, though they often charge fees. It is a good idea to get advice from an estate planning attorney when deciding on a Trustee.
See Kyle E. Krull, P.A., Trustee Selection Pointers, Law Offices of Kyle E. Krull, P.A., June 23, 2015.
