How to Choose the Right Trustee for your Estate


Choosing a Trustee for Your Estate

Estate planning can be complex and there are many parts to include in your preparations. As you make plans for your estate, one important factor to consider is naming a trustee. A trustee is a person that is in charge of managing your estate and making all related decisions. Often times, people list themselves as the trustee, however, it is important to name a successor trustee, a person who would assume trustee responsibilities in the event that you are no longer able to, typically due to death or incapability. Furthermore, consulting a Bucks County estate planning lawyer is a great way to ensure that you are correctly preparing everything.

How to Select a Trustee

When choosing someone to manage your estate, other than yourself, there are certain criteria you should keep in mind while making your selection. The person should be someone that is trustworthy and will agree to abide by the terms you have set forth for your estate. Additionally, this should be a person that is familiar with your family and the way you make decisions. Usually, a spouse or adult children are named as trustees, or even successor trustees, but a bank or trust company can be chosen to handle this role, as well.

Getting an Attorney Involved

While you make plans for your estate, it is also important to seek legal advice to ensure that the terms you set are legally compliant. Regarding a trustee, a Philadelphia estate planning lawyer can inform you, and any trustees, of the legal aspects of estates and the role of each individual. The attorney, being well-versed in PA estate planning, will also help prepare and certify any necessary documents related to estate planning and ensuring that all requirements have been met. There are times when individuals attempt to handle all parts of estate planning on their own, however, they, unfortunately, typically experience legal complications. Because there are many steps to follow, including many legal requirements to abide by, consulting an estate planning attorney is strongly advised. Our office would be happy to assist you with your estate planning.