Kiplinger's Personal Finance Magazine has an article in its March 2007 online edition entitled "In You They Trust". The article discusses factors to consider when deciding whether to agree to serve as trustee as well as some tips for those that take the job on.
My favorite first piece of advice for a new trustee or executor: read the document(s). One of the first things we go over in an initial meeting with a new client serving as trustee or executor is a careful review of the terms of the trust or will (particularly the dispositive and discretionary terms). If there is any confusion or ambiguity, it is best to spot and deal with as early as possible.
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