Wednesday, November 23, 2011
Characteristic Checklist for Choosing a Trustee
Here are some characteristics you should consider when you're picking out a trustee:
1.The time required to handle the trustee duties
2. The compensation that the trustee should receive
3. Special expertise/skills the trustee should have
4. Whether the trustee would make wise investment choices and have wisdom to follow the trust instructions
5. Whether the trustee would have knowledge to manage the assets in the trust
6. Whether the trustee is trustworthy
7.Consider successor trustees just as carefully in case something happens with the original trustee that you choose.
See Bill Roberts, Selection of a Trustee...A Search For Wisdom, Aspen Family Business Group Newsletter.
Special thanks to Jim Hillhouse (WealthCounsel) for bringing this article to my attention.