Perhaps the most important part of any estate-planning document is designating the people who will carry out a California resident’s wishes. When it comes to choosing a trustee, it may not be a good idea to make the choice quickly without careful consideration. Doing so could doom beneficiaries to engaging in trust litigation in order to protect their rights.
Instead, it may be beneficial to stop and take the time to make an informed choice. Will the potential trustee be able to get along with the beneficiaries? Even though it is not a requirement, it would certainly help if the trustee could deal with the personalities involved.
In addition, the person chosen as trustee needs to be qualified and capable. A trustee does not need legal or accounting knowledge to serve in this capacity, but he or she should be able to make sound decisions and find the help necessary to do the job. Perhaps most importantly, the person must be willing to serve. Thrusting someone into this capacity without giving him or her the chance to decline could cause issues when the time comes. Moreover, a California resident may want to take the time to be sure that the trustee does not have any potential for misusing the assets in the trust for his or her benefit.
Of course, the choices made now may seem like the right decision, but in reality, there are no guarantees. Even if the trustee has the best intentions, he or she may mismanage the trust’s assets or not get along with the beneficiaries as well as hoped. If that happens, trust litigation remains a possibility if they cannot work out their differences or issues amicably.
Source: thebalance.com, “Three Questions to Ask When Choosing a Trustee for Your Trust Fund”, Joshua Kennon, Accessed on May 20, 2018