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Have a backup trustee named for your trust administration plan

Trusts are a great way to protect your wealth during your lifetime and to have that wealth benefit those people and causes that you want to support after your death. Moorestown residents who set up trusts can in some cases make themselves the trustees of their trust accounts, but when they die, they need others to step up and perform trust administration duties in their absences.

All trusts should have backup trustees named in their provisions. If a trust creator is the original trustee of the testamentary device, then he needs someone to perform the responsibilities after his death. If the trust creator names someone else as trustee during his lifetime, a backup or secondary trustee should be named in the event that the original trustee passes away or becomes unable to serve in the important trust administration capacity. The future is uncertain, and important tools like trusts need to be prepared to handle possible contingencies that can happen in the future.

How a trust or even an entire estate is managed can depend a great deal on the person or people who are named to administer it. For that reason, individuals who prepare trusts and other testamentary devices need to think carefully about who they want in charge of their estate administration matters. The guidance of experienced estate planning professionals can help individuals make good decisions about the parties they put in charge of administering their estates.

The attorneys of the Donnelly Ritigstein Law Offices are prepared to discuss your trust and estate questions with you. Every estate is different, and the goals of unique trusts may be distinct. For this reason, special considerations should be given to the parties left responsible for fulfilling the decedent's wishes and satisfying the requirements of his estate and trust after his death.

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