Who should I name as the trustee of my Special Needs Trust?
When selecting a trustee for your Special Needs Trust in Maryland, it is important to pick the right person. The trustee you select should be someone you know and trust, and who you believe is best suited to serve in this role. The most important qualities to consider when selecting a trustee are: trustworthiness, knowledge, and commitment. The trustee should be financially responsible and understanding of the role they will be filling. They should also be familiar with the intricacies of financial and estate planning, as well as the rules and regulations of disability planning law in Maryland. You will also want to select a trustee that you can communicate with. They should be willing to regularly review your finances and report back to you, as well as address any questions or concerns you may have about the trust. If you do not have a family member or close friend who is a suitable candidate, you can consider professional options, such as a trust administrator, lawyer, accountant, or financial advisor. No matter who you choose, it is important to make sure your trustee is someone you trust and feel comfortable with. Your Special Needs Trust will help support you financially during your lifetime, so you want to make sure your trustee will be reliable and dedicated to taking care of your assets. You will also want to make sure that they understand your wishes for the trust and are willing to carry them out.
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