A closer look Choosing a Trustee to Preserve and Transfer Your Wealth

Lynn C. Halpern

Jan 29, 2020

In Brief

  • Trusts are a time-tested way to transfer wealth and achieve other financial goals for your family.
  • Serving as a trustee can be an honor, but it certainly is a responsibility involving a serious commitment of time and care.
  • Trustees are responsible for managing the trust faithfully, distributing and investing trust assets, careful recordkeeping, and compliance with state and federal tax laws and other regulations.
  • Choosing a trustee who is prepared to take on these responsibilities — whether an individual, corporate trustee, or a combination — is one of the most important decisions the trust originator (the grantor) must make.

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Senior Fiduciary Counsel
Lynn oversees Bessemer’s estate planners and fiduciary officers in the Northeast region, as well as the firm’s estate administration group. She is also responsible for working with clients and their advisors to develop practical and efficient wealth transfer plans, and for guiding the firm on fiduciary issues.