Factors to Consider When Naming a Trustee for Your Estate
Naming a trustee is a crucial step in estate planning. This individual or entity will be responsible for managing your assets and distributing them according to your wishes after you pass away. In the state of California, there are specific considerations and guidelines to keep in mind when selecting a trustee. Following is essential information about naming a trustee for your estate in California. Understanding the Role of a Trustee A trustee is an individual or institution appointed to administer a trust on behalf of the grantor (the person who creates the trust) and the beneficiaries. The trustee has fiduciary ... Read More
Considering Co-Successor Trustees? Consider This…
When we’re discussing estate planning with folks, one question almost invariably comes up. Can I designate more than one person as my successor trustee? It’s a great question, and one that warrants significant thought. Aside from dictating who you wish to inherit the assets you leave behind, the designation of your successor trustee (“executor” in last will jargon) is probably the most significant decision you’ll make when establishing an estate plan. Ideally, your designation will establish your first choice and will be augmented by at least one alternate designee. In the majority of cases, trustors (the person or people creating ... Read More
