Who is available to act as trustee?
If the trust is funded during the parent’s lifetime they are frequently in the best position to act as trustee. If the parents are trustees during their lifetime the trust should provide direction on who will be the successor trustee when the parents are no longer able or interested to act. Perhaps either a corporate Trustee or a family member will be able to step into this role. Most Estate or Elder Law Attorneys suggest a corporate Trustee that will be impartial/objective and to avoid family conflicts or if there is no family member available or willing to act as successor. Corporations are frequently unwilling to act as successor trustee for trusts with less than $150,000.00. Life’s Plan, Inc. is a not-for-profit corporate Trustee that is willing to serve as Trustee of trusts starting at as little as $10,000. Some families create a private trust and name other family members as successor trustees. Aunts, uncles and siblings of the individual with a disability should all be considere
