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Law Offices of Roshni T. Desai
Long-term Planning For Orange County
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How can I choose the right trustee?

A trust is just one estate planning tool that can be highly beneficial when it comes to managing your assets after you’re gone. However, selecting the right trustee to manage your affairs is usually a daunting task, especially when you have a complex financial situation. AARP recommends the following tips when looking for a trustee to ensure your best interests are kept in mind throughout the process.

Look for Someone With Common Sense

While some people believe their trustee must possess high-level business acumen, common sense will actually take you much farther. For instance, if your trustee runs into an issue that’s outside of their knowledgebase expert assistance can be helpful. It’s important for a person to seek help if he or she has questions to ensure your estate is managed properly.

Consider Age & State of Health

Your trustee should also be younger than you, so you can make sure that he or she will be around after you’re gone. If you do pick a person your age or older, you can choose a backup to ensure help will be available. In fact, many estate planning professionals urge their clients to select backups in the event the first person is unavailable for any reason.

Review Your Selection

Even if you feel that you’ve made the best selection possible, it’s a good idea to revisit your choice in a few years. If there are any major changes in your trustee’s life, such as a divorce or new marriage, it could impact his or her ability to perform tasks on the behalf of your estate. If you’re concerned about family or interpersonal issues getting in the way, you can choose a corporate trustee (such as a bank or financial service).

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