Select the Right Trustee for your Estate Plan
When drafting an estate plan, it’s critical to select the right trustee to carry out your wishes. It’s also important to establish procedures for removing a trustee in the event that circumstances change. Failing to do so may require beneficiaries to petition a court to remove the trustee for cause, which can be an expensive process. Reasons for removing a trustee include conflicts of interest and mismanagement. To avoid court intervention, allow beneficiaries to remove a trustee without cause if they’re dissatisfied with his or her performance.