Perspective
Jul. 25, 2013
Tapping the family lawyer to be trustee
All too often there is no perfect person to act as the trustee of an estate. However, the family lawyer can be an excellent choice. By Bruce Givner and Owen Kaye
When Mom and Dad meet with their lawyer to begin to draft an estate plan, one of the most important questions is, who will be the trustee upon the surviving parent's death? Or upon the death of one and the incompetence of the other? If they have three children, they should pick an independent third party. Were they to name all three children as co-trustees, there may be paralysis since, unless the trust provides for majority rule...
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