successor trustee Tag Archives

woman with head and hands staring at computer on desk

20 Mar 6 Mistakes Successor Trustees Make and How to Prevent Them

Posted at 19:05h in Uncategorized by Phelps LaClair Law

Being named as successor trustee is a big responsibility that comes with legal and fiduciary duties. It means you’re in charge of managing someone’s trust after they pass away or become incapacitated. While it may seem straightforward at first, there are several dangerous mistakes that...

08 Dec How to Choose the Right Trustee for Your Trust

Posted at 21:08h in Estate Planning, Living Trusts by Phelps LaClair Law

Creating a trust is a thoughtful and strategic way to ensure that your assets transfer seamlessly to your beneficiaries. However, one key aspect of building a successful trust is choosing the right trustee. The trustee must safeguard your assets and uphold your wishes when distributing...

when does a revocable trust become irrevocable - man thinking and looking at computer

22 Feb When Does a Revocable Trust Become Irrevocable?

Posted at 17:07h in Irrevocable Trusts, Living Trusts by Phelps LaClair Law

Revocable trusts offer many benefits, including protecting your assets and keeping them out of probate. They also allow you to control and access the assets in the trust as well as make other changes at any point during your lifetime. If you've already set up...

How to Administer a Trust - woman writing on document

13 Jan How to Administer a Trust

Posted at 15:36h in Irrevocable Trusts, Living Trusts by Phelps LaClair Law

Fulfilling the duties of a trustee can feel overwhelming at times. There are many rules to follow and many tasks to carry out if you want to ensure the trust is administered successfully. It can often be difficult to know exactly where to start. We...

15 Jul Successor Trustee

Posted at 13:39h in Estate Planning, Power of Attorney by Phelps LaClair Law

When you put your assets into a Living Trust, you know that you, as the grantor, maintain full and complete control. You are also the Trustee. As a result, you get to decide what happens with those assets. And because you are the lifetime beneficiary,...

what are the duties and responsibilities of a trustee

18 Jan What Are the Responsibilities of a Trustee?

Posted at 09:53h in Estate Planning, Living Trusts by Phelps LaClair Law

Wondering what you will have to do if someone names you as trustee or what you’re really asking of the person you want to name as trustee? Understanding what the duties and responsibilities of a trustee entail can help make accepting or assigning the role...

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