If you've named your children, relatives or friends to be in charge as "Successor Trustee" of your Living Trust when you pass away (or become disabled), they probably will have no idea what to do! After all, they've probably never served as a Trustee before!
Unfortunately, what they don't know could cost your family a lot of money. Worse yet, if your Successor Trustee fails to handle certain tasks promptly and correctly, he or she may be personally liable out of his or her own funds for damages to your beneficiaries.
For example, does your Successor Trustee know how to:
- Determine the duties owed to your beneficiaries?
- Properly carry out those duties?
- Work with your beneficiaries to avoid conflict?
- Resolve any disputes that do happen?
- Defend against contests?
- Set up proper accounting procedures?
- Avoid numerous pitfalls for the unwary that could expose them to personal liability?
We've now got the answer... The New Estate Planning Law Center "Successor Trustee Manual"
This one-of-a-kind Manual is based upon our firm's unique experience in handling many trust administrations after clients have passed away. It contains over 150 pages chock-full of plain English checklists and step-by-step procedures that not only will greatly assist your Trustee -- but will help minimize potential legal fees, aggravation and anxiety!
Keep in mind that, if you're married, this Manual may be of great value to the surviving spouse, when he or she must act alone as Trustee.
Please contact us to find out how you can obtain a copy of the "Successor Trustee Manual."