A closer look Choosing a Trustee to Preserve and Transfer Your Wealth

In Brief

• Trusts are a time-tested way to transfer wealth and achieve other financial goals for your family.
• Serving as a trustee can be an honor, but it certainly is a responsibility involving a serious commitment of time and care.
• Trustees are responsible for managing the trust faithfully, distributing and investing trust assets, careful recordkeeping, and compliance with state and federal tax laws and other regulations.
• Choosing a trustee who is prepared to take on these responsibilities — whether an individual, corporate trustee, or a combination — is one of the most important decisions the trust originator (the grantor) must make.