Have you decided to set up a trust for some of your assets? If you have, then you may be thinking that you should have a family member be the trustee for the trust. Being trustee is much different than having a power of attorney or being an executor of a will. Consider the following things carefully before appointing a family member trustee of your trust.

Family Conflicts

The trustee’s job is to occasionally go against the wishes of the beneficiaries of the trust. Sometimes this is the reason that an inheritance is left in a trust instead of being left directly to beneficiaries. If your family member is the trustee this may put them directly in conflict with other family members. This can create a messy situation that you did not intend.

Trustees are Busy

Being the trustee is a long term commitment. It takes a significant amount of time and effort on the part of the trustee. If you are putting all of this responsibility on a family member, you need to make sure they are both willing and able to do the job.

Personal Liability

A trustee is personally can be held personally responsible for breaching their responsibilities. This means that your family member could open themselves up to legal action should they make a mistake.

If you need legal advice in setting up a trust or are having legal issues with a trust, contact the elder law experts at Stano Law group.