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Bookmark or Share- What Is the Best Way to Make Sure a Trustee Follows ... - ElderLawAnswersBut in other ways the answer is simple. Do the best you can now in picking a trustee but also make sure there is a mechanism in the trust that permits you and your husband to change trustees while you're alive and for your son to do so after you have both passed away or are no longer competent.
- A Brief Overview of a Trustee's Duties - ElderLawAnswersTrustees are entitled to reasonable fees for their services. Family members often do not accept fees, though that can depend on the work involved in a particular case, the relationship of the family member, and whether the family member trustee has been chosen due to his or her professional expertise. Determining what is reasonable can be ...
- 5 Rights That a Trust Beneficiary Has - ElderLawAnswersLearn about the rights of beneficiaries of revocable and irrevocable trusts, such as payment, information, accounting, removal, and termination. Find out how to manage or set up a trust and get answers to common questions.
- How Much Should a Trustee Be Compensated? - ElderLawAnswersIn addition to compensation for their work, trustees are also entitled to reimbursement for any expenses that they might incur in the course of performing their duties, including travel, storage, insurance, or taxes. If the beneficiaries are unhappy with the fees the trustee receives, they can challenge them in court.
- How to Choose a Trustee - ElderLawAnswersProfessional Trustees. If you don't know anyone who meets these qualifications, you can look into hiring an independent trustee. This can be an individual or an institution with no beneficial interest in the trust. Some examples include: A bank or trust company; A professional trustee; An investment advisor or manager; An investment banker; An ...
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