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Choosing The Right Estate Trustee Is Imperative, Agrees Fairfax Estate Planning Attorney

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					                                                         Law Firm Newswire
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                                                          http://www.lawfirmnewswire.com


                                   Choosing The Right Estate Trustee Is Imperative, Agrees Fairfax
                                   Estate Planning Attorney
                                   Fairfax, VA (Law Firm Newswire) October 12, 2012 – According to "A Matter Of Trust," a recent article in The
                                   Wall Street Journal, naming a trustee is one of the toughest and most important key estate decisions a person
                                   can make.

                                   If a trust has already been prepared, says author Jeanine Skowronski, it is advisable to review the documents to
                                   make certain the trustee chosen years, or even decades earlier, is the same person to oversee estate issues in
                                   the future. It may be that changes should be made. Many people decide on a trustee when they have young
                                   children; the people chosen to administer estate issues or make other financial or heath care decisions may be
                                   supplanted by the estate owners own children, now grown. Or, the primary administrator was an in-law or close
                                   family member or friend, and that relationship has changed.

                                   In general, the things to consider when deciding on a trustee include the person’s proximity, responsibility, and
                                   organizational skills. A trustee should, if possible, be located close enough to be able to care for the issues of the
                                   estate efficiently, with minimal disruption. It is also beneficial if they are able to manage their own financial
                                   affairs, and will be able to respond to issues in a timely fashion.

                                   "Choosing a trustee solely due to familial ties or a friendship can backfire," agrees Fairfax estate planning
                                   attorney Lisa McDevitt. "The trustee you want overseeing your estate is someone with a solid business sense,
                                   and probably not someone who will bring their own wishes and plans to the table."

                                   The job of administrator can take a large amount of time, cautions Skowronski, as there are some trusts
                                   designed to last for several generations. Also, it is advisable that the administrator knows at least a little about
                                   money management and estate-tax law. Most importantly, the administrator must be able to stay objective when
                                   carrying out the goals of the estate. It is also possible to name more than one person to fulfill the duties of
                                   overseeing a trust. While some people designate a close friend of family member, others hire a trust company to
                                   step in or other financial professional.

                                   When considering the role of trustee to oversee estate planning, it is advisable to speak with an experienced
                                   estate planning attorney.

                                   Lisa Lane McDevitt
                                   2155 Bonaventure Drive
                                   Vienna, VA 22181
                                   Phone: 571-223-7642
                                   Toll Free: 866-602-7850
                                   http://www.mcdevittlaw.net/




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Description: Fairfax, VA (Law Firm Newswire) October 12, 2012 According to “A Matter Of Trust,” a recent article in The Wall Street Journal, naming a trustee is one of the toughest and most important key estate decisions a person can make.