Deciding who to appoint as a trustee or executor as part of your estate plan can be a tricky business. One obvious option for a trustee is a valued family member, someone that you can count on to act in accordance with your best interest. At McCulloch & Miller, we have years of experience advising clients on how to choose the right trustee or executor for them, helping them make a decision that works well for their individualized circumstances.
What is a Trustee or Executor?
A trustee is a person that you designate to oversee your trust; this person is in charge of making sure the trust’s assets are used according to your wishes. An executor, on the other hand, is a person appointed to carry out the terms of your will or estate plan. This person will sort out your finances and assets after you are gone.
What is the Cost of Appointing a Trustee or Executor?
When deciding who to appoint as a trustee or executor, you may have many options in front of you: in particular, you might need to choose whether to appoint a family member or a professional as the person to oversee your assets.