in Helpful Insights
Choose a Trustee with These Three Characteristics
If it’s time to choose a trustee, carefully consider these three characteristics: their reputation, empathy, and procedural approach. Transitioning from a long-standing relationship with an advisor, teacher, coach, doctor, lawyer, CPA, trustee, or financial advisor - whether due to retirement...
Choose a Trustee
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 in Helpful Insights
Should You Name Your Child as Trustee?
Parents: Should you name your child as Trustee? Children: Should you really serve as the Trustee if you are named? If you have a son or daughter with good business sense, you may have concluded that he or she would...
Seniors with adult son as trustee
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 in Helpful Insights, Trustee Tips
Trust Accounting to Beneficiaries: What to Expect
Trust Accounting. Boring! (Not if you're a beneficiary) “Tell me the bottom line!”, the beneficiary feels like yelling. “Did I make money or lose?”  One of the duties of a trustee is to provide financial information to beneficiaries. Unlike a...
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73
 in Helpful Insights, Trustee Tips
How Does a HEMS Trust Standard Affect Trust Distributions?
HEMS is a common acronym used in estate planning. What does it mean? It has nothing to do with sewing. This is a different kind of hems! Many trusts include a HEMS standard which is a tool that grantors have...
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73
 in Helpful Insights, Trustee Tips
You’re Executor of an Estate. Now What?
It can be an overwhelming endeavor to take on the role of executor of an estate. While the initial assignment might seem like an honor, the reality of the role naturally triggers many questions. In order to execute the role...
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134
 in Helpful Insights, Trustee Tips
How a Trust Protector Can Rescue Irrevocable Trusts
The term Trust Protector carries the connotation of a superhero, poised to come to the rescue when called upon. A Trust Protector’s role is to guide a trustee to ensure that a grantor’s intentions and wishes are carried out. It’s...
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142
 in Helpful Insights
Power of Attorney: What Are Your Responsibilities?
Have you been named as a power of attorney? If you’re stepping into this role for the first time, there are terms and responsibilities you need to understand going forward. This is a vitally important role, and one that can’t...
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147
 in Helpful Insights, Trustee Tips
How to Choose a Loyal Trustee: Know Your Options
Are you preparing to choose a trustee? Knowing how to choose a trustee, and what your options are, is not as straightforward as it seems. In fact, there are a number of factors and considerations that come into play when...
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154
 in Helpful Insights, Trustee Tips
When and How to Remove a Trustee
Are you considering how to remove a trustee who you feel is not doing their job or is incompatible? While you may feel there “should” be a straightforward response to your problem, often there is not. Depending on the trust,...
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155
 in Helpful Insights, Trustee Tips
The Trustee–Beneficiary Relationship: Building Trust Through Understanding, Process, & Accounting
You’re facing a new trustee appointment with a trust you didn’t write and beneficiaries you didn’t previously know. This article sets out an indelible process to help you build a relationship, establish rapport, and do well in your new position....
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