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KayakAngler

Professional Trustee

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We've contacted a local atty (California) regarding trusts & estate plans, but I think we need help in finding a trustee.  Any suggestions?

I think we'll need a professional trustee or team who can manage assets, disburse funds, do recordkeeping and taxes, and manage healthcare.  We'd like to be able to define the basic structure of the team now, develop a system of reasonable checks and balances, and be able to activate the system when needed. What would be a good structure? Who are key people we need to contact?  Keep in mind it might be years before we need to activate the system, based on our health status.

BACKGROUND

Husband -- needs much home care, wheel chair bound, mentally able, currently manages finances

Wife -- still working but will retire soon, provides 80% home care to husband, not suited to manage finances other than basic bill paying

Children & close relatives -- none

SCENARIOS OF CONCERN:

A. Wife dies first, husband will need care and his abilities may have significantly declined.

B. Husband dies first, wife will need financial management & possible health assistance

C. Both become incapacitated & need significant assistance

Health staus can change quickly, and we need to be able to have things in place.  Thank you!

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There’s really not enough information here to provide much guidance. As a starter, I don’t know what your relationship is to this couple and why you are concerned about this arrangement. I also don't really know what it is that they want and to whom they want their stuff to go after they die. I don’t know the present state of their finances, their health, etc. I’d think the attorney that was consulted would be in the best position to recommend what kind of arrangements would work well.

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I haven't a clue what you mean by "activate the system," but any decent estate planning attorney should be able to recommend one or more "structures" and a professional trustee if you have no family member or friends that you want to use.

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