A living trust can be an expedient and efficient way to deal with your assets upon your demise. Because it is often quicker and cleaner than probate, some will choose to create a living trust to ensure that their personal effects are properly distributed after their death. But selecting the right trustee for such a responsibility can be very difficult.
Consider first and foremost if the person you have in mind has enough time, expertise, and organizational skills to take on the large responsibility of managing your living trust. Is this person a well-organized individual? Do they excel at inter-personal communication? These are all necessary skills for a trustee to have in order to execute his duties.
Next consider any conflict of interest you might be creating in naming your trustee. Would your children have trouble dealing with each other? Would your business partner be put in a compromising situation because of the trust? Think hard about this, since there are many hidden issues which can easily present themselves at the wrong time.
For more information about Trusts, Wills, and Estate Planning in Upland, contact Gaudy Law.
