Selecting A Trustee

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Selecting a trustee is a serious decision which must be carefully considered. The person must be willing to serve and should also have sufficient financial experience, sound judgment and adequate time to handle the responsibilities that are attendant to the task. In certain circumstances, it may be preferable to appoint a third party rather than a relative as a trustee. For example, if your adult children do not get along, choosing a third party can be preferable to choosing just one child, which may inflame the sibling rivalry.