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February 2011 Moms
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question about will

aug05dcaug05dc
in February 2011 Moms

We're meeting with the attorney this week to draft a will, trust, POA, medical directive, etc.  We'll have to establish a trustee for the child's money who is different from the guardian who would take care of it. 

Question is:   What type of considerations go into naming the trustee--someone fair/good character?  someone knowledgeable?  someone assertive?  someone mature?  We know we want a person who will adhere to our wishes and be conservative with the money.  I guess there's also the bank trustee option, if anyone can comment on that.

I know, serious ques for the start of the weekend...TIA!

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Re: question about will

  • Lucky_DragonflyLucky_Dragonfly member

    the person we choose is someone that would make the same decisions that we would and ironically it ended up being the same people that will get DS- SIL and her DH.

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  • danayandcorydanayandcory
    If the trustee will be different than the guardian the most important considerations I think should be someone who handles finances in the same manner as you and your DH. If you are risk adverse, you don't want to pick someone who is will invest in risky ventures and possibly lose some of the child's money. Also someone who is knowledge about finances/investments and has a good character, so you won't have to worry about them funneling the child's money for their own use.
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