When appointed to act as the Successor Trustee upon the incapacity of a trustor, you have an abundant amount of responsibilities and tasks at hand. Oftentimes, there are several family members involved, all wanting to help and provide input. While support is important, a Trustee must balance their priorities.
The first is always to ensure that the necessary steps are taken to ensure the well-being and safety of the trustor. This involves making sure the trustor is in a comfortable living environment, is receiving quality care, and their financial assets are protected and used for the trustor’s benefit.
There may be other surrounding issues such as preparing and selling a home which may be time sensitive. While the Successor Trustee must protect the asset and act in the best interest of the trust and the ultimate beneficiaries, the Successor Trustee must focus on issues at hand.
The Successor Trustee must use their discretion to prioritize. In doing so, it may be necessary for the trustee to set aside other issues including beneficiary inquiries and concerns which can be addressed at a later time. Being a trustee is a big undertaking and all interested beneficiaries need to understand the primary concern is to take care of the Trustor and their immediate needs.
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