Lidia Law Firm, P.C.
Estate Planning & Business Law

How to choose a trustee

If you’re setting up a trust in Oklahoma, selecting the right trustee can be a bit daunting. After all, you want to make sure that the person you choose is capable of managing your estate after you die. Accordingly, AARP recommends the following tips to help you find the best choice for your needs.

Keep Age in Mind

Even the most competent trustee will be of little help if he or she dies before you. That’s why you want to keep age in mind when looking for a trustee. Try to choose someone younger and in good health to ensure they’ll be around and of sound mind when the time comes. If you do choose an older trustee also pick a backup. That way you can rest assured your estate will be in good hands no matter what.

Emphasize Common Sense

You don’t need to choose an estate planning genius when looking for a trustee. You should make sure that your selection has ample common sense however. For instance, he or she may run into an issue requiring complex legal knowledge. In this case, seeking an expert opinion is crucial and you want to make sure that your trustee has the wherewithal to search for advice when necessary.

Revisit Your Decision

Even if you find a great trustee you may want to visit the decision in a few years’ time. Major life changes like marriages or divorces can affect a person’s ability to properly manage your affairs. If you’re concerned about the unpredictable nature of choosing a friend or loved one, you can also select a bank or financial service as your trustee.

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