What are your responsibilities as a trustee?
Questions you need to ask when setting up the trust:
What is the duration of the trust
How long is the trust expected to last?
What is the value of trust Assets?
How is it being valued?
Who will be the beneficiaries of the trust?
Potential Change in Circumstances Such As:
The best way to ensure the trust is used the way you intend is to put it in writing. Is your intent clear?
What is a Spendthrift Trust?
The best practice is to set distribution standards.
This leads to the benefits of a South Dakota Trustee infrastructure which allows for a distribution committee.
Thank you for watching. I'm Ann Zuraw and I'm here when you want to discuss trust.