How to Find the Right Trustee for Your Estate

Understanding the steps that you can take to protect yourself can give you a great deal of peace of mind about approaching the estate planning process. If you have established a trust to protect a substantial estate as well as your beneficiaries from the downsides of probate, this is a crucial planning step that far too many people ignore. One of the best benefits to approaching the estate trustee process is identifying a fiduciary who has a moral and a legal obligation to put the interests of the client first.

Not every advisor would classify themselves as a fiduciary which could leave them exposed to conflicts of interest. For example, someone could move a client’s assets into funds that ultimately pay the advisor a commission but are not generally suited to the client’s individual needs. This is why it is important to identify someone who has a personal interest in protecting your interest and rights.

A trustee will be called upon to make critical decisions about how to manage assets within a trust and they need to have the necessary background to make informed decisions. Estate trustees ideally will have a tax and investment background to help with these crucial decisions. Furthermore, bear in mind that you need to select somebody who can assist your family directly. Your family will be going through the emotional challenges of having just lost you when the trustee takes control. This means that if the person doesn’t get along with your beneficiaries or is insensitive, your family members could be the ones paying the price. Talk to a VA estate planning lawyer now.