Most individuals take their time when choosing a contractor to remodel their home. They will investigate any potential contractor before hiring them. No one wants to entrust an under-qualified contractor with, what is for many, their most valuable asset: their home. They want someone that comes recommended from others. It is always preferable to hire someone that is experienced and highly-skilled in their craft. A contractor that can provide a resume full of successful contracting jobs is always better than someone that has no real resume and little industry experience.

The same methodology should apply when choosing fiduciaries and trustees to oversee your estate plan. You want to choose someone that you can trust. It should be someone that will carry out your wishes. Many lean towards a trusted family member. Whoever that individual is, it should be someone with enough life experience that they can handle your affairs in an efficient, effective, and professional manner. Many desire a fiduciary or trustee that has money management experience and acts like a business manager. For many, this makes sense because that individual will be managing the business of your estate. It is worth the time to consider all the trusted individuals in your life and choose the one that will do the best job. Remember, you are hiring the individuals that will manage your legacy.

For additional reading:

Common Trust Plan Funding Mistakes

Estate Planning for Your Unique Family Circumstances

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