Category Archives: Successor Trustee

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Fiduciaries Beware! Personally Liable for Taxes!

Most of my new clients come to me with the idea that they should nominate a spouse or a child to serve as the executor/successor trustee of their estate. Except for small estates, which also have no “family politics,” or … Continue reading

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I Have a Living Trust – Now What? Part 3: Tasks

3. Complete the Organization Tasks that will make the administration of your estate easier! Create an Asset Inventory List, so that your successor trustee knows what accounts, assets, and policies are owned by the Trust. Create a Personal Property Memorandum, … Continue reading

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I Have a Living Trust – Now What? Part 2: Copies

2. Give Copies and Let People Know! Give copies of the appropriate documents to the appropriate people. Anyone listed on your HIPAA Authorization or Advance Healthcare Directive should have a copy of the documents. Let the people who are named … Continue reading

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Trustees & Executors: One at a Time

Who will control your money, your property, and your medical care if you are disabled or deceased? It is a daunting decision, and one that should be given careful consideration. Of course, most clients consider aspects of character such as … Continue reading

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Are You a Successor Trustee? Here Are Some Tips on Avoiding Potential Liability

If you are serving as a trustee, and you wish to avoid becoming personally liable to the trust beneficiaries or other persons in connection with your management of the trust, then here are two basic rules to follow: 1. Document … Continue reading

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