Choosing a trusted person/advisor to represent you and carry out your decisions is perhaps one of the most important, and most difficult decisions to make in an estate plan.
First, don’t choose just one person. What if they are on vacation out of the county in a remote place?
Many times, people just choose their spouse, then the oldest child. That is not always the best decision.
Here are some guidelines and tips to help.
- Do they know you well enough to make decisions for you?
- If not, then spell out your wishes in the power of attorney
- Choose somebody else
- Do they have the willpower and discipline to carry out your decisions?
- Will they “pull the plug?”
- Will they go to court to stand up for you?
- How good are they at managing money?
- Can they meet deadlines? Like paying your bills…
- Do they get along with your family?
- Can they work with your attorney and CPA?
- Have you thought about a professional money manager for your trust as an alternate trustee?
Will they follow your final distribution orders?
from Protecting You And Your Family http://ift.tt/29CmxRY
from DeWitt Law Firm, PLLC
No comments:
Post a Comment