As the below article from Trusts and Estates Magazine shows, serving as a Trustee can be hazardous if you are not a professional.
It is common for clients to name family members as a Personal Representative or Trustee. However, before take on the responsibility you need to think carefully about your responsibilities.
The article below should be required reading before you take on the job:
trustee breach fiduciary duty paradee
Clients also need to be careful in their selection of decision makers. Before you make a selection that creates a disaster, make sure you discuss it thoroughly with your estate planning attorney.
Bernie Greenberg
BECAUSE DEATH AND TAXES: Learn about what you need to do to be prepared for what's coming. Wills, trusts, taxes, probate. If you haven't experienced it you will. Estate planning is one of the most important things you can do to protect yourself and your family. Please join Bernie Greenberg's world of estate planning. www.kgattys.com
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