For the Love of Your Family

Q&A Should the person I pick as my trustee have a background in law or finance?

Clarifying Questions

Q & A:

QUESTION

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Q: Should the person I pick as trustee of my living trust have a background in law or finance?

—Trust Planner

 

ANSWER

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A: Dear Planner:

The person you choose to serve as trustee for your trust does NOT have to have a background or experience in law, finance, taxes, or any other field related to trust administration. In fact, trustees are not only allowed to seek outside support from professionals in these areas, they’re highly encouraged to do so, and your estate will pay for such professional support.

While serving as a trustee can be a serious responsibility, the individual you select won’t have to handle the job alone. Plus, your trustee can also be paid for their service, though close family members often choose to forgo any payment beyond what’s required to cover the trust expenses. 

Furthermore, as a Personal Family Lawyer®, we will be available to guide your chosen trustee step-by-step throughout the entire process, ensuring he or she is able to properly fulfill all of your wishes as spelled out in the trust, without exposing the beneficiaries—or themselves—to any unnecessary risks.

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