Who should I pick as my trustee?

Your successor trustee is who is managing your trust assets for you after you do (or with you or instead of you, depending on your circumstances).

Your trustee must be someone who you trust to make financial decisions for you (or with you) in the event that you are not able to do so. This could mean that your trustee is working with your CPA to file taxes if you’re incapacitated during April. It could mean that your trustee is making sure your mortgage is getting paid.

Your successor trustee is also responsible for making sure that your assets get where you want them to go. For example, if you want all your assets split equally among your children, it’s going to be your successor trustee who makes that happen. If you want your neighbor to get your dining table, your friend to get a piece of art, and your siblings to get x% and your dog to be taken care of…. it’s your successor trustee who is going to make sure that happens.

Does it have to be a processional fiduciary? Nope. People often prefer to have friends who know them fill this role. Many times it’s someone who knows you and your values and who would make wise/sound financial decisions if they have to do that.

So who should you pick as your trustee? Someone you actually trust to make financial decisions.

If you want to discuss more, contact me for a complimentary consultation!