When clients select a successor trustee for their trust, they frequently choose one person to serve as a successor trustee at a time. Many attorneys continue to recommend that only a single trustee be appointed to avoid the potential for disagreements or conflicts between co-trustees during the trust administration after the trustmaker’s death or disability. This can be a prudent approach and works well in many situations. This is particularly true when the appointed trustee diligently keeps the trust beneficiaries informed about the trust administration and carefully fulfils the trustee’s responsibilities under both the law and the provisions of the trust document.
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Cryptocurrencies have been making headlines as of late, with more and more investors wanting in on this digital currency. Cryptocurrencies are attractive because they are unregulated, decentralized, and anonymous. While secrecy is useful in some areas of life, when it...
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When you create an estate plan with your spouse, you may have the same goals and dreams for your family, but how do you know those wishes will be honored? Did you know that, in most cases, your joint estate...
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Originally published in the Fall Edition of WealthCounsel Quarterly on December 8, 2021.
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Confused about the differences between a will and a trust? If so, you are not alone. While it is always wise to contact experts like us, it is also important to understand the basics. Here is a quick and simple...
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