Helping your Successor Trustee and Beneficiaries Prepare

How can you ensure that your estate plan will be administered according to your wishes? If the executor or successor trustee you have chosen is a family member or loved one, will that person be able to carry out the role of a fiduciary during a period of emotional stress or mourning? If you have chosen a professional fiduciary, will your trust be administered smoothly and in accordance with your wishes?

Rest assured that your fiduciary and beneficiaries are not alone – your estate planning attorney is there to support you. We can educate the fiduciary you have chosen about the fiduciary duties that will be owed to the beneficiaries of your trust and answer questions about how to carry out these obligations in practice. Your executor and trustee have a fiduciary duty to administer your plan in the interest of the beneficiaries and to deal with them impartially. Additionally, a fiduciary cannot use any of the trust property for his or her own profit or for any purpose not expressly listed in the trust.

We recommend scheduling a family meeting along with your estate planning attorney so we can help educate your trustees about the role of a fiduciary and the steps involved in administering a trust. This meeting will also help assure your beneficiaries that your trust is an accurate reflection of your wishes. Not only will this provide you with the peace of mind of knowing that your fiduciary and beneficiaries will not be blindsided when you die, but it will also provide them with an overview of the administration process now rather than having to get them up to speed during the emotional period after your passing.

The future is full of uncertainties, but one thing you can be sure of is that we are here to help implement your wishes according to your intentions and can guide your trustee through all the steps involved in administering your trust. \