Who should I name as the trustee of my Special Needs Trust?
When you are making a Special Needs Trust (SNT) in the District of Columbia, it is important to carefully consider who you name as the trustee of the trust. The trustee will be responsible for managing all of the financial assets, making decisions about the funds, and generally overseeing the trust. Therefore, who you choose as the trustee should be someone you trust to do the right thing for you and your family. The person you choose should have experience with financial matters and understand the fiduciary responsibilities of being a trustee. This includes the need to act in the best interest of the trust, to understand the terms of the trust, and to manage the funds responsibly. If the trustee does not have the experience or knowledge to properly manage the trust, you may want to consider appointing an institution or professional trustee. When making your decision, it is also important to make sure that the trustee has the time and energy to manage the trust. Depending on the specific terms of your trust, the trustee may need to manage investments, pursue legal actions, and be available to answer questions about the trust. It is also important to discuss with the trustee any potential conflicts of interest that may arise due to their involvement in the trust. Considering the importance of the role of trustee, it is incredibly important to select someone you know and trust to handle this important responsibility. Ultimately, it is your decision to make, and you should be sure to choose a trustee who has the experience, knowledge, and dedication to effectively manage your trust.
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