Finding a Fiduciary

Choosing a trustee is one of the most important decisions a client makes when establishing a trust. In making this decision, there are a number of factors the client should consider, including, among others, relevant expertise and experience; familiarity with the family; characteristics such as dependability, sound judgment, and impartiality; the complexity of the trust assets and administration; and cost. While a client may have a trusted family member or friend who is an appropriate choice for the role, given the trustee's fiduciary duties and responsibilities, a client may want to consider naming a professional to serve as trustee (either as the sole trustee, or as a co-trustee with a family member or friend). This new seminar provides an overview of the duties and responsibilities of the trustee, highlights important trustee qualifications, and explains the types of trustees a client might consider given their particular circumstances.