If you are interested in creating a living trust, one of the most important questions to answer is this: who are you going to name as your successor trustee? In short, this person takes over your trust after your death or if you become incapacitated.
This is a big decision, so you should consider all your options before making a choice. It is common to choose a spouse, adult child, or close relative or friend; however, these are not your only options.
Questions to Answer
As you attempt to make a sound decision, here are some of the many questions you need to answer:
- Is the person you are interested in selecting up to the task?
- Is there any reason to believe that the person you are choosing may not be the best person?
- Would you be better off selecting an attorney to act as trustee as opposed to a family member or friend?
Choosing a Family Member or Friend
If you are like most people creating a living trust, you will choose a spouse or adult child to act as the successor trustee. Since this arrangement typically works out for the best, most people tend to move in this direction.
Note: one of the primary benefits of selecting a family member is that the person may take on the task free of charge.
Whether or not this is an option is based on your family situation. Would it be too much on your spouse to take care of you, if incapacitated, while also being in charge of the responsibilities of a trustee? If you have more than one child, will you make waves by choosing one person over the other?
The most important thing to remember is that your trustee must be honest, reliable, and willing to take on this task regardless of what comes their way.
Getting Legal Help with Creating a Living Trust in Bellevue
Do you still have questions about how to choose a trustee for your living trust in Bellevue? In this case, speak with an experienced Bellevue estate planning attorney about your options. Over the years, we have helped many people better understand their situation, ensuring that they make the decision that is best for them and their family.
Feel free to contact us at your earliest convenience. We are more than happy to help you create a living trust in Bellevue and choose a trustee while doing so.