If you have a revocable living trust, you probably named yourself as trustee so you can continue to manage your own financial affairs, but eventually someone will need to step in for you when you are no longer able to act due to incapacity or after your death. The Successor Trustee plays an important role in the effective execution of your estate plan. The Key Takeaways: ●Because successor trustees have a lot of responsibility, they should be chosen carefully. ●Successor trus
As Ambrose Bierceonce darkly observed, “Death is not the end. There remains the litigation over the estate.” Obviously, ideally, when someone passes away, the paperwork and material concerns associated with the estate are so flawlessly handled (thanks to excellent preparation) that they fade into the background, allowing the family to grieve and remember in peace. In fact, the whole business of estate planning – or at least a significant piece of it – is concerned with ease.