Planning for Life

6 Questions to Ask When You've Been Invited to be Trustee

Posted by Harry S. Margolis on September 30, 2014

So you have been asked to serve as trustee on the trust of a family member. This is a great honor meaning that the family member trusts your judgment and is willing to put the welfare of the beneficiary or beneficiaries in your hands. However, it is also a great responsibility. You need to go into it with your eyes wide open. Here are six questions to ask before saying "yes":

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Topics: trusts, Estate Planning

What's a Trustee to Do? Providing Guidance

Posted by Harry S. Margolis on September 16, 2014

People set up trusts for all sorts of reasons: tax avoidance or reduction, financial management in the event of incapacity, probate avoidance, asset protection, and for a child with special needs, just to name a few. In these instruments, the person creating the trust -- the grantor or donor -- lays out all of the rules under which the person or institution managing the trust must operate. Oddly, trusts generally give the trustees little guidance on how to exercise their power to distribute trust income or principal to beneficiaries.

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Topics: trusts, Estate Planning

7 Issues to Consider When Choosing a Trustee

Posted by Harry S. Margolis on June 3, 2014

By Harry S. Margolis

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Topics: trusts, Estate Planning

The 3 Pitfalls of Joint Ownership for Estate Planning

Posted by Harry S. Margolis on April 15, 2014

By Harry S. Margolis

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Topics: trusts, Estate Planning

Beware Beneficiary Designations - Massachusetts Estate Planning

Posted by Harry S. Margolis on March 25, 2014

By Harry S. Margolis

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Topics: trusts, Retirement Planning, Estate Planning

9 (Potential) Problems with Your Trust - Massachusetts

Posted by Harry S. Margolis on December 3, 2013

By Harry S. Margolis

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Topics: asset protection, trusts, Retirement Planning, Estate Planning

How Can Family Cohabiting and House Ownership Work?

Posted by Harry S. Margolis on November 19, 2013

By Harry S. Margolis

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Topics: trusts, long-term care planning, Estate Planning

Who Should You Choose as Trustee of a Special Needs Trust?

Posted by Christina T. Vidoli on October 2, 2013

By Christina T. Vidoli

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Topics: trusts, special needs planning

Special Needs Trustees Beware!

Posted by Harry S. Margolis on August 13, 2013

By Harry S. Margolis

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Topics: special needs planning, trusts

What Taxes do Trusts Pay?

Posted by Harry S. Margolis on July 2, 2013

By Harry S. Margolis

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Topics: trusts

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