Many times when I ask a client who they want as their Trustee they think for a moment and simply say their oldest child. Sometimes they mention the child who they feel is most dependable.

Our children usually have their own families to manage or are deeply involved in their careers. Other problems might arise with sibling rivalries or simply jealousy. It is better for a professional to run the Trust in these instances. A corporate Trustee is accustomed to looking ahead at your future needs, investing towards those goals and managing requests for money from successor beneficiaries.

You may start by checking with your local bank and see what they offer.

#TuesdayTip