Wills and Trusts:


If you use a lawyer as a trustee, they may charge a trustee’s fee by an hourly rate, which may be less or more expensive than a bank fee. A lawyer can also serve as a co-trustee who prepares tax returns and provides advice on how to minimize taxes. One advantage to selecting a lawyer to act as your trustee is that he or she will be approaching the trust from an objective viewpoint and family disagreements or sibling rivalries will not affect his or her decisions. In some cases, an attorney may be more likely to look out for the interests of all of the beneficiaries in an even handed manner whereas a family member's judgment may be clouded by family conflicts.

Wills and Trusts: Choosing a Trustee