You are making a wise move when you decide to craft your estate plan. You made decisions about your asset distributions and selected your beneficiaries.
But now you must answer this key question: Who will you choose to be your trustee or executor?
In other words: When you die or if you become incapacitated, who do you think could manage your finances or estate in the same way you would want?
At first, this may seem like an easy question to answer. But there are considerations that may make your selection more difficult.
- Family members or loved ones may feel overwhelmed with an already busy life
- You may trust someone with the job, but they might not be the best manager of money, or they may lack the skills to carry out your wishes
- There may be conflict when choosing one family member over another
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