How well do you know those around you? Do you trust certain family members over others? How do you know that this trust will continue should you fall ill or pass away? These are questions we don’t often ask ourselves. They make us too uncomfortable, especially when the topic of death surfaces.
However, as the baby boomer generation retires, many of us are facing the same difficult decisions. So how do you ensure that you have chosen the right conservator and trustee? In the event that you become too ill to make financial and medical decisions for yourself, a conservator will make these decisions for you. A trustee, sometimes the same person as the conservator, will manage your trust. In California, this person’s responsibilities, or fiduciary duties, include properly investing and managing the trust along with informing the beneficiaries to changes in the trust. This is a great deal of responsibility, which is why you must choose your conservator and trustee carefully.
Choosing the Right Trustee and Conservator: A Crucial Decision
Traditionally, the duties of trustee and conservator were given to the eldest child or spouse. Though this is often a good choice, you must think long and hard about the decision. Are you choosing the person or people who will respect your wishes, or are you trying to avoid hurt feelings? Will they properly manage your bank accounts and assets, or will they keep as much money as they can for themselves? Will they be looking out for your well-being when you are unable to or will you be trapped, unable to speak up for your rights? If they go astray, will your family have to endure a long, difficult battle to remove them as trustee or conservator?
Free Information to Help You Choose the Right Trustee in California
In order to help you make the right decision, we wrote a free, downloadable book, Stealing Home: A Cons Guide to Inheritance Theft. As California probate attorneys, we have seen too many families go through hell and back in the attempt to protect the well-being of their loved ones. Do not let this happen to your family. Instead, choose your trustee and conservator very carefully.
We are respected southern California probate lawyers, we know how to minimize the stress that often comes with planning your future. If you need help with an estate plan, please contact our probate lawyers today for information on our estate plans. Get started right now. We can and will help you rest at ease, knowing that your family’s financial future is secure.
Regain your peace of mind. Contact our skilled estate planning attorneys today by calling 1.800.840.1998.