Consider A Trust Bank
Last week we covered choosing a trustee. However if you can’t find the right individual family member or friend to take on the job of trustee, and you don’t like the idea of an independent professional fiduciary, you might want to consider a “trust bank” to administer your living trust.
Trust banks are institutions or branches of institutions that provide trust administration as a business....
Choosing A Trustee
How do most people choose a trustee? What process will they follow to pick a candidate for a job which involves the proper handling of attorneys, bank officers, gun collections, and possibly millions of dollars?
Usually, mom and dad sit around the kitchen table filling out estate documents. They come to the blank for filling in the trustee’s name. Who will they choose to execute their will and...
When a Loved One Dies: A Successor Trustee’s Checklist
When a loved one dies, it is an emotional time accompanied by confusion on what happens next. If you are named as the successor trustee, you likely haven’t had any experience dealing with the steps you need to take in settling your loved one’s Living Trust. If you are the Successor Trustee – or need to figure out who is – this simple guide provides a few steps you need to follow....
The Living Trust, Durable Power of Attorney, and the Living Will
THE LIVING TRUST
For most of my clients, at the center of their estate plan sits a document known as a “living trust.” Sometimes, attorneys will create separate living trusts for spouses, and sometimes joint trusts, depending on their circumstances and state of residence. This type of trust is called “living,” because it goes into effect and protects you even while you are alive. It...