Anyone you choose can be your Trustee. Likewise, almost anyone can be Executor in your Will. Both the positions are considered fiduciary roles and come with fiduciary obligations. Certain standards apply to the conduct of a fiduciary. Generally they must conduct the affairs of the estate or trust as a prudent businessman would do. Both positions require a certain professionalism but an executor needs only a minimum of financial expertise, a trustee, on the other hand, may need quite a bit of knowledge of investing, as the position can exist longer and with less statutory guidance. In short, it is often more efficient that an attorney handle such matters, but it matters whom you choose!
Can My Attorney be Executor or Trustee?
Categories:
Related Post
Overlooked Estate PlanningOverlooked Estate Planning
Most people can get by with a simple estate plan consisting of a power-of-attorney and a simple will or sweetheart wills. That’s fine but what happens to computer records and
Welcome to Louisville Law ClinicWelcome to Louisville Law Clinic
Welcome to Louisville Law Clinic. Questions are always welcome, but please make sure you don’t leave any confidential or even personally identifiable information because this is a very public place!
How to Become a Notary in KentuckyHow to Become a Notary in Kentucky
To apply for a Kentucky Notary Public State at Large appointment or reappointment, download the form HERE and submit it online, or mail it with a $10.00 fee made payable
