Executor and Trustee

Individuals

Choices of Individual Executor (s) or Trustee (s)

• Surviving spouse
• Adult children based upon their age, level of maturity, and financial expertise.
• Relatives
• Business associates
• Friends
• Professional advisors
• Attorney
• CPA
• A combination of individuals

Issues regarding Individual considerations

• Family relationship
• Expense to estate
• Size of the estate or trust in dollars
• Experience (financial, administrative, investment)
• Sophistication (financial, administrative, investment, and tax)
• Reliability
• Integrity
• Availability
• Conflicts of interest
• Knowledge of testator's affairs
• Age
• Emotional stability
• Tax consequences (income, estate, and gift)

Corporate (bank or trust company)

Choices of Corporate Executor's or Trustee's

• Size of estate in dollars
• Reputation of bank or trust company
• Convenience to surviving spouse and to survivors
• Expense to estate; fees

Issues to consider with Corporations

• Size of estate or trust
• Expense of fees (ask in advance)
• Reputation of the bank or trust company
• Willingness to accept trust document powers, obligations and limitations or restrictions
• Experience in managing certain types of assets
• Investment philosophy and performance
• Qualification of personnel
• Extent of record keeping
• Type of assets; such as Cash, Real property: income-producing or nonincome-producing, Stocks, bonds (public), or Business assets