Adulting, Made Easier – Stories & Straight Talk
Quick reads, helpful tips, and honest breakdowns of what you need to know.
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What Happens When Nobody Wants to Be Your Trustee?
You finally picked the perfect person to serve as trustee. Responsible, trustworthy, organized… check, check, check! Except there's one little problem. They don't want the job! Now what? Before you panic or put your estate planning on hold, let's talk about why someone might hesitate, what support is available, and how to keep your plan moving forward. Because even the best trustee choice doesn't work if they're not willing to serve! Read more...
You Love Your Kids Equally. But Should They Both Be Trustees?
You love your kids equally, so naming them both as trustees seems fair, right? Not so fast. Just because you want them to inherit equally doesn't mean they should manage everything together. And trust me, the last thing you want is to turn your estate plan into a sibling showdown. Here's how to choose the right people for the job without making anyone feel like the favorite. Read more...
Before You Agree to Be a Trustee, Read This!
Being asked by a loved one to serve as Trustee for their Trust upon their death can be quite an honor, but it’s also a significant responsibility—and the role is not for everyone. Indeed, serving as a Trustee entails a broad array of duties, and you are both ethically and legally required to execute those duties or face potential liability.
Before you say yes, be sure you understand what it means to be a Trustee.
In the end, your responsibility as a Trustee will vary greatly depending on the size of the estate, the type of assets covered by the Trust, the type of Trust, how many beneficiaries there are, and the document’s terms. In light of this, you should carefully review the specifics of the Trust you would be managing before deciding to serve.