Choosing Your Successor Trustee: The Pros and Cons of Naming Co-Trustees
When discussing estate planning with clients, one question almost always arises: Can I designate more than one person as my successor trustee? It’s a great question and one that deserves thoughtful consideration. Beyond deciding who should inherit your assets, choosing your successor trustee (or “executor” if we’re talking about a will) is one of the most significant decisions you’ll make when creating an estate plan. Ideally, this selection includes your primary choice and at least one alternate designee. In most cases, the creators of a trust (trustors) often choose their children as successor trustees. It’s common for parents to worry ... Read More
