Naming someone else to carry out your final wishes, such as a personal representative, trustee, or a state administrator, can be uncomfortable for a variety of different reasons. This means that plenty of people don’t put the appropriate amount of thought into selecting someone as trust administrator.
The trust administrator has many important roles in handling the distribution of your trust and must follow the rules in the trust as well as applicable laws. Since this person will have a high level of responsibility after you pass away, it is important that you choose someone responsible and in whom you can place your confidence to carry out your final wishes.Â
It is usually a good idea to select someone who lives relatively close to you or any properties that will need to be managed or sold by them. Bear in mind that your estate or trust administrator will also need to be in frequent contact with beneficiaries or other interested parties for months or longer following your death, making sure that your beneficiaries are comfortable with the chosen trust administrator and understand his or her responsibilities can reduce the possibility of conflict in the future.
Especially if your trust administrator will be responsible for handling distributions for months or years, make sure the chosen person is comfortable serving in this role.
If you are unsure about establishing a trust or need further guidance about how it can be used to help accomplish your goals, set up a time to meet with our estate planning attorneys in Pasadena.
