Preparing a living trust in California can bring many benefits: your heirs (called beneficiaries) can avoid probate of trust assets, tax advantages are possible, and you can maintain more control over who gets what and when. To help ensure your wishes are carried out when you’re gone, it’s crucial that you think carefully about who will be your trustee. It’s easy to see why naming the right trustee is so important, since this person will be managing the assets and making distributions from the trust to your beneficiaries. For example, would Marlon Brando have any objections to how his trust is being managed now? Recently, a New York Times article quotes one of his trustees, who describes Brando as someone who “always took pride in the idea that he didn’t commercialize himself.” Yet, the trustees are planning to build an eco-resort in the South Pacific that will be named the Brando. Vanity Fair suggests that had Brando been alive, he may not have given the green light to naming a hotel after himself.
When it comes to your own trust, your concerns are probably a little different than Marlon Brando’s. Even so, the success of your plans can depend on how the trust is managed.
With years of experience in creating living trusts, we can create a plan that provides the trustee with the necessary guidance to safeguard your intent. We’ll also help you consider the pros and cons when choosing a trustworthy person who understands how you’ll want your property managed. Do your part to ensure you provide for your loved ones according to your wishes. Contact our San Diego Law Firm trust attorneys at (619) 794-0243.
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