Friday, May 12, 2023
What Could Go Wrong? Choosing the Best Drivers for the Estate-Planning Bus
Jay E. Harker (Stifel Trust Company, N.A.) recently published an article, What Could Go Wrong? Choosing the Best Drivers for the Estate-Planning Bus, ABA Probate & Property Magazine, May/June 2023. Provided below is an introduction to the article:
Estate planning is essential for people who have accumulated meaningful wealth or face challenging family circumstances. Like math, estate planning can be hard, especially so when clients need to decide who should drive their estate-planning bus. Disaster can ensue if this decision is taken lightly. Often, discussions of this topic focus on the relative merits of individual trustees versus corporate trustees. This article reframes the discussion by focusing on selection methodology, rather than type of trustee. Lawyers can help clients avoid estate-planning disasters by encouraging them to make better trustee-selection decisions.
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