A trustee has an important role that involves a legal fiduciary duty to properly manage the Trust’s assets. It is important to be careful when selecting a trustee, they need to possess the traits necessary for carrying out the responsibilities of the position. A settlor should be candid with the person, making sure they understand what being a Trustee entails. It might be a good idea to hire a professional trust company that has more expertise in the area of trust management.
See Sandra MacGregor, How To Choose The Right Trustee For Your Estate, Forbes, May 19, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
