A person’s estate plan often relies on other people to ensure that the correct steps are taken to administer the remaining assets. Many California residents choose to use trusts as part of their plans, and they need to appoint trustees to handle the trust administration process. Choosing the right person can be difficult as trustees have a lot of responsibilities to handle.
One important aspect to consider is that the trustee will have to work with various people during the administration process. He or she will need to have contact with current beneficiaries and may need to work with remainder beneficiaries as well. Additionally, the trustee will have to make regular reports to the court and the beneficiaries to show how the trust is doing.
Because it is such an intensive position to hold, trustees need to have the time to devote to their obligations, and it is often best for the trustee to live in close proximity to where the trust is held and the beneficiaries reside. Plus, the relationship between the trustee and the beneficiaries should be assessed because contention between those parties could cause substantial conflict. The terms of the trust could also affect the possibility of who would make a good candidate.
Having a responsible person to handle trust administration is important, but it is also necessary to consider various details to ensure that an individual is the right person for the job. Of course, if California residents have a candidate in mind, they may want to go over the duties of the trustee to ensure that he or she is willing to take on the role. It may also be prudent to inform the individual that legal help is available during the process if needed.
