Tampa Professional Trustee Attorney

Including a trust in your estate plan can help your loved ones avoid probate while also providing protection for your property. When creating a trust, you must appoint a trustee who will manage and administer the trust. Although many people first consider appointing a loved one as a trustee, you can also choose a professional trust attorney. These individuals are professional attorneys and there are many benefits that come with appointing one as your trustee instead of a spouse or other family member.

Experience

Successfully administering a trust requires a fair amount of financial and legal knowledge. It also requires a great deal of experience. Trustees should be well-versed with the state and federal laws that govern trusts. Trustees should also know how to invest the assets within the trust so they can grow during the life of the trust. Professional trustees typically have much more experience in all of these areas than your loved ones do.

Objectivity

When certain conditions are met, trustees are sometimes granted the authority to make discretionary payments. A professional trustee will not have any interest in the trust and they will not benefit from it. Due to this, professional trustees can bring more objectivity to these decisions and personal feelings will not get in the way of making decisions that are best for the trust.

Avoiding Conflicts of Interest

Trustees sometimes have to resolve disagreements that arise between beneficiaries. Trustees also have to carefully make decisions that will prevent these conflicts from arising at all. When a trustee has a personal relationship with the beneficiaries, it can be even more challenging to resolve or avoid disputes without creating additional interpersonal challenges. By using a professional trustee, you choose a person who is not involved personally with the beneficiaries or family and whose only concern is proper trust administration.

A Willingness to Serve

When you appoint a loved one as a trustee, you may assume that the individual you choose is able and willing to serve. Unfortunately, this is not always the case. There are times when a person does not have the patience or the time to serve as a trustee. Also, if you appoint a loved one such as your spouse or other family member as trustee, they may not want to take on the role during their time of grief. If you appoint a professional trustee, these concerns are not a factor, which can give you and your loved ones greater peace of mind.

Our Professional Trustee Attorney Will Always Act in Your Best Interests

There are many benefits that come with appointing a professional trustee, but you still must make your choice very carefully. At BBDG Law, our professional trustee attorney will always work in the best interests of you and the trust, prevent conflicts from arising, and ensure the trust provides the protection you and your family need. Contact us today by calling (813) 221-3759 or fill out our online form to schedule a consultation and to learn more about how we can help you and your loved ones.