Picking a Trustee: Is a Family Member the Right Choice?

Choosing a trustee is a crucial step in estate planning, but is a family member always the best choice? This decision can have a big impact, not only on your legacy but also on family dynamics.

Family members acting as trustees can face complex responsibilities, like managing finances, handling tax filings, and maintaining legal compliance. And in some cases, they may struggle with the time commitment or potential conflicts, especially if decisions impact other family members.

A corporate trustee offers a neutral, experienced option. They manage everything from asset oversight to tax filings, often making it easier for families to focus on what matters. Corporate trustees can act as the sole trustee, a co-trustee, or as an agent to assist a family member with the technical responsibilities.

Interested in learning more about choosing the right trustee? Watch the video or contact us to discuss what might work best for you.

At Wheeler Wealth, we want you to have Level 10 confidence that you’re on the right track.