There are many terms in the field of estate planning that have become ubiquitous in the field, however, their meaning is often misunderstood. Trustee, beneficiary, executor, and fiduciary are some of these terms. The personal term “fiduciary” comes from the type of duty that a fiduciary owes to a beneficiary…
In many families, it’s easier to figure out the ‘who gets what’ part of an estate plan than it is to decide which person should be power of attorney. Which adult child can handle finances, which one is better with decisions during a crisis? Making the decision about which family…
Most of us consider naming a friend or relative with a background in finance or law to be a trustee for our family, but there is an alternative that is important to consider. A corporate trustee will have a very different approach to managing a trust, and depending on your…