Monday, January 21, 2019

Co-Trustee vs. Sole Trustee

There is a debate in the estate planning community regarding how restrictive trusts should be with respect to having beneficiaries serve as sole trustee over their trust portion.  The attorneys of Morris Law Group typically recommend that beneficiaries should become a co-trustee at a certain age and sole trustee at a later age.  This allows the beneficiary to learn how to manage their trust funds and gives the beneficiary time to familiarize themselves with the roles. 

While every situation is different, the age we typically recommend that a beneficiary become a co-trustee of their trust is 25 and sole trustee is 35.  Interested in putting a plan in place to better prepare your beneficiaries for managing their trust assets? Contact the experienced attorneys of Morris Law Group for an immediate consultation.