This Week's Topic: Trustee Selection

Choosing a Trustee is often-times a very difficult decision. First of all, selecting a family member may be a mistake because of the lack of capability and the potential liability that all trustees have for making mistakes. Also, there may a conflict of interest with the beneficiary such as the more that is spent on the current beneficiary the less there is for the remainder beneficiaries, which may include the trustee!

Accordingly, corporate trustees or individual, private trustees are often chosen. You can ask your attorney, CPA and/or financial advisor for some suggestions. And always find out what the trustee