Selecting a Personal Representative

Video Transcription

Do you have someone in your life who you know, or trust enough to hand over a blank check? Estate planning attorney Rebecca Doane says when you name someone as your personal representative or successor trustee, that’s exactly what you are doing.

Many times, those crucial designations are made, then forgotten about and never updated, even as life circumstances change. So 5 or 10 years down the road you may find out, your personal representative or successor trustee has died!

“Or that person is no longer your closest friend or you’re now estranged from that brother or that son has gone off the deep end and you don’t want that son acting in that fiduciary capacity.”

Rebecca Doane says review those designations periodically and update them as often as necessary. And if you don’t have a person in your life who you know will do the right thing for you… You may want to consider a corporate fiduciary. If you have questions about that, or any other estate planning issues, call Doane and Doane at 561 – 656 – 0200 or log onto doaneanddoane.com.