Are you using a trust as part of your California estate plan? If so, anyone involved in the administration of this trust should be informed in advance to provide clarity. Since different kinds of trusts can be used to different intentions, it’s helpful to work with a knowledgeable lawyer to properly structure your trust to protect your intentions.
Before establishing a trust, it is a smart idea to determine who you will install in the role of trustee and to carefully evaluate your options for beneficiaries. Beneficiaries should be aware of several aspects related to your trust, including the purpose for creating it, who else will have access to the trust, and how best to work with the trustee or trust administrator.
Beneficiaries may ask to meet with the trustee who will be responsible for trust administration, after the grantor has passed away or become incapacitated. By selecting the right trustee to serve in this role, you can minimize the possibility of trust disputes and give your beneficiaries a good idea of what to expect. The selection of your trustee is an important component of proper execution of the trust.
Someone that you choose to serve in this role should be familiar with expectations and plan appropriately for your next steps. Trustees could include corporate fiduciaries for one or more individuals, and it is powerful to think about who you select in this situation and how best to inform them of their responsibilities and to set them up for success. Our Pasadena lawyers can help you navigate this process easily.
