In a recent WSJ Wealth Advisor article, Anna Prior addresses the trend away from institutional and professional trustees for many trust settlors/creators. In another recent Trusts and Estates article, the author referred to trustee selection as the “most disrespected decision” in trust planning. Choosing a trustee for your trust is very important and there are many aspects to the decision, from ensuring the person/institution understands fiduciary duty as well as your plans and desires, to ensuring suitable alternate trustees are available, to periodic meetings with the trustee both before and during trust administration. In our practice at DRC, we spend significant time with each trust client ensuring that the right persons or institutions are selected to serve as trustee and trust advisor/protector.
MWR
