14.2 Choosing a Trustee
| Library | A Lawyer's Guide to Estate Planning: Fundamentals for the Legal Practitioner (ABA) (2018 Ed.) |
14.2 Choosing a Trustee
The choice of a trustee is significantly different from the choice of an executor. The executor function is short term, whereas the trustee may act in that capacity for many years. Because the trustee is handling the trust assets for the benefit of another, the competency of the trustee in handling investments is quite important. Equally important is the integrity of the trustee, because it is handling the money of others. The need for efficient receipt of investment income, payment of expenses, and reporting of its activities to the income and remainder beneficiaries is important.
Typically, clients name corporate...
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