Being named as a successor trustee in someone’s revocable living trust document can be considered a great honor. But with that honor comes responsibility. Whether you were appointed to this role due to someone’s death or incapacity, we are here to assist you with understanding your role in the trust administration process and to offer […]
Liz Nielsen
Common Mistakes by the Trustee from Austin Estate Planning Attorney Liz Nielsen
When establishing a trust, you must give serious thought to who you choose as your successor trustee—the person who will manage, invest, and hand out the trust’s accounts and property once you are no longer able to do so. This individual ideally should be someone you trust implicitly; someone who is organized, responsible, transparent, and […]
Who Should Be My Successor Trustee? from Austin Estate Planning Attorney Liz Nielsen
Who Should Be Your Successor Trustee? If you have a revocable living trust, you probably named yourself as the initial trustee so you can continue to manage your financial affairs. Eventually someone else will need to step in when you are no longer able to act due to incapacity or after your death, however. Your […]
How to Choose a Trustee from Austin Estate Planning Attorney Liz Nielsen
When you establish a trust, you need to choose a trustee. A trustee does what you do right now with your financial affairs. Some of their duties include collecting income, paying bills and taxes, saving and investing for the future, buying and selling property, providing for your loved ones, keeping accurate records, and generally keeping […]