July 13, 2021—When creating a trust, the first decision is likely to be the most important one—choosing a trustee. Should it be a friend, family member, spouse, or a corporate trustee? The decision-making process involves several considerations to find the best fit. In today’s podcast, National Director of Delaware Trust Planning Jeff Wolken reviews the duties and responsibilities of a trustee to help you select one that is most appropriate for your situation.

Related reading:
Whom to Name as Your Trustee
Duties of a Personal Trustee
Benefits of Naming a Corporate Trustee

 

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The information provided herein is for informational purposes only and is not intended as a recommendation or determination that any tax, estate planning, or investment strategy is suitable for a specific investor. Note that tax, estate planning, investing, and financial strategies require consideration for suitability of the individual, business, or investor, and there is no assurance that any strategy will be successful.

Wilmington Trust is not authorized to and does not provide legal or accounting advice. Wilmington Trust does not provide tax advice, except where we have agreed to provide tax preparation services to you. Our advice and recommendations provided to you are illustrative only and subject to the opinions and advice of your own attorney, tax advisor, or other professional advisor.

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Note that a few states, including Delaware, have special trust advantages that may not be available under the laws of your state of residence, including asset protection trusts and direction trusts.