Successor Trustee vs Executor Estate plans consist of legal documents that are signed, notarized, and kept safe in places like safety deposit boxes. But they also consist of people. And while the documents themselves serve as the foundation for an estate plan, what ultimately makes the plan work is the people who carry it out …
If you have been chosen as a trustee to one’s living trust, then understanding your responsibilities is crucial. The position of trustee places a considerable amount of work on your shoulders. It will be largely upon you to fulfill a trust’s purpose, over a indeterminate amount of time. In many ways, it’s an absolute honor …
When setting up a trust, it pays to be thorough. Most people who may have an interest in setting up a trust for their estate understand that a successfully developed and implemented living trust can often be the difference between a smooth inheritance process, and unnecessary consequences. Part of every trust is eventually deciding whose …
In the estate planning world, a living trust is considered a powerful and versatile tool. Through it, a person can assign beneficiaries to their wealth and property, and plan ahead to create their own administration process without a probate court watching. The trustee creates and oversees the trust. The successor trustee is the person the …