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A closer look Choosing a Trustee to Preserve and Transfer Your Wealth
Jan 29, 2020
- 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.