Estate Planning as a Career

The trustee is the guy who manages your trust assets. Great care should be taken in your selection of your trustee. The trustee is bound by the trust document (i.e. contract) and he has a duty to protect trust assets for the beneficiaries. The independent trustee manages, holds legal title to trust assets and exercises independent control.

The trustee can be your lawyer (worst person you would ever want to trust), your accountant, best friend, or anyone you trust whos not (more…)

The beneficiary is the reason for your trust (contract). Your beneficiary is the person who will enjoy the benefits of your trust assets. They include, wives, children, grandchildren, charitable organizations of every color and variety.

The length of your beneficiary is unlimited. The beneficiary could include the original grantor, but that would be self-defeating. Trusts should be irrevocable. The grantor gives-up his assets to gain asset protection, elimination of proba (more…)

When presenting potential clients with different asset protection options, systems, and strategies, one of the questions asked is if I would be willing to act as their Trustee. Yes, I reply but only as a temporary basis and with a resignation letter. The temporary basis allows me to act quickly without fanfare and time consuming communications between the assets and their financial goals.

As an alternative, my answer is, “No, I dont want to serve as a Trustee, but I will (more…)