Considerations for your Trustees

Picking a trustee for your will or living trust should not be taken lightly.

 

You have choices. When you talk with your lawyer, remember to talk carefully about the, different types of trustees, pros and cons.

 

This is an important topic since, if I have done my job well, a probability approach (i.e., evaluating possibilities all the time) to retirement income means there is some money still available when you are no longer here to enjoy it. Precisely when, and why, a well considered plan that transfers your assets to your heirs will kick in. Or … you may still be here … and your plan needs to have someone you trust manage your resources on your behalf to pay those expenses you still need paid for.

Please note that I am not providing legal advice here … instead I’m encouraging you to seek the advice of your lawyer drafting your will or living trust about this often little considered, but extremely important, aspect of your plan.

About Larry Frank, Sr.

Larry R Frank Sr., MBA, CFP®, is an experienced financial advisor and a published author on Retirement Planning Research. Have a financial question? Click Here to Ask Larry

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