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ARTICLE · 08 JUNE 2023

Who Do You Trust? Considerations For Naming A Trustee

Reinhart, Boerner, Van Deuren SC
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Trusts are a fundamental part of many estate plans because they provide asset protection and probate avoidance. Choosing the right trustee is a key consideration in establishing a trust.

United StatesWealth Management
Shannon Toole
Shannon Toole
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Trusts are a fundamental part of many estate plans because they provide asset protection and probate avoidance. Choosing the right trustee is a key consideration in establishing a trust. This article highlights factors to consider when naming a trustee.

Overview of Trusts in Estate Planning

Two common types of trusts used in estate planning are revocable living trusts and irrevocable trusts. A revocable living trust is a trust created by an individual (the grantor) during the grantor's lifetime. A revocable living trust allows a grantor to manage the trust assets for the grantor's benefit during his or her lifetime and to avoid probate after the grantor's death. The trust is "revocable" because the grantor can change or amend the provisions of the trust at any time until death.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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