Can I Appoint the Same Person as Executor (Personal Representative), Trustee and Guardian?

A Video FAQ with Mary E. Vandenack.

Naming the fiduciaries in your estate plan, which include the trustee(s), personal representative and the guardian of your children, are really important decisions. If you have minor children and you are naming individuals, you may want to consider naming different people. Your sister or brother may be a great person right now; you pass away and they are responsible for caring for your child as guardian. They also have complete access to the money. You have to feel you have total confidence in having the same person control your child’s well-being, as well as their money. So, no matter how much you trust that person, you should give some consideration to separating those functions simply to have a double-check in place for your children.

© 2014 Parsonage Vandenack Williams LLC

For more information, Contact Us

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s