Establishing a trust in New Hampshire requires that you appoint a trustee to manage it. Living trusts may be used for any estate that has a high value of assets and/or possible complications. Living trusts allow people to exercise greater control over when and how their money gets dispersed to their heirs, both during the course of their life and after they pass away, which is significantly different than leaving Read More
Can Beneficiaries Request Replacement Of A Trustee?
In New Hampshire, trusts are often established as part of the estate planning process to protect loved ones from receiving an outright gift payment and also to add a layer of privacy to an estate plan. If your beneficiaries and your trustee don’t get along, this can foreshadow a lot of problems with the implementation of the trust. The creator of a trust, also known as a grantor or settlor, may want the trustee to Read More
What Happens If A Trustee Just Doesn’t Communicate?
Whom you choose to serve in any significant role in your estate or trust administration is very important because this person must communicate clearly with your beneficiaries. When creating a trust and appointing a trustee, you expect that they will live up to their responsibilities and maintain regular communication with beneficiaries. Unfortunately, one of the biggest challenges many beneficiaries report is a Read More
Who Makes for a Good Trustee?
Once you have already done the necessary work with an estate planning lawyer to create a trust, the next important decision to consider is who you will trust to handle your legacy. This is known as appointing the trustee of your trust, and there are several different factors to consider when selecting this person. The first is their versatility to adapt to the changing tax, financial, legal and business climate Read More
What Qualities Should I Consider in Naming Someone as Trustee?
One of the most important distinctions between a revokable and an irrevocable trust, concerns who will be appointed as the successor or initial trustee. If you are putting together an irrevocable trust, naming yourself as a trustee would defeat the primary purpose of this estate planning strategy. Naming a successor trustee of a revokable trust or a primary trustee of an irrevocable trust, however, requires careful Read More
When Should I Use a Corporate Trustee as My Successor Trustee?
A successor trustee is the individual or entity appointed to handle trust affairs should you become incapacitated or pass away. If you are not sure that a family member or friend you intended to appoint in the role of successor trustee could handle this responsibility well or you fear that it could only spark further family conflict, you may be able to avoid some of these problems by using a trust company or the Read More
What Is a Trustee Fee?
A trustee is a person who serves in an important role in managing the assets and administration of a trust. This person is also entitled to receive compensation based on their efforts managing the assets and the responsibilities associated with the trust. Trustee fees are payments for services rendered whether the trustee is an organization or an individual. Various duties are associated with the responsibility of a Read More
