living trustWhen creating a will or setting up a Trust, you will need to choose someone or a corporate Trustee to carry out the necessary tasks of settling your estate or managing your Trust. You will leave explicit instructions on how you want things handled, and you need to Trust that they will implement your wishes.

Some people think first about selecting a family member or very close friend. Family members often want to be chosen and feel honored that their brother, sister, father, or mother shows so much confidence in them. Sometimes such a choice is appropriate, especially if the estate is small and uncomplicated and relationships between the heirs or beneficiaries are harmonious. It also matters if the time required is relatively brief or if it will be more demanding and cover years instead of months.

A will with limited assets may be able to be probated and matters settled within a few months. Some of the duties of an Executor of a will and a Trustee of a Trust are similar. You will work with your estate planner to determine exactly what you will need to make your particular plan work well. Honestly evaluate the people or Trust companies you may consider.

Once you have chosen your Executor or Trustee, let your heirs or beneficiaries know what you have set up. This makes it less likely that there will be bickering or hard feelings when people are grieving. Good choices now will give you greater peace and your family will appreciate it too.

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