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If you are creating a living trust in California that uses a common pot trust, you may want to consider using a corporate trustee. Choosing your successor trustee is very important as you create your estate plan. A successor trustee could be a friend, family member, trusted advisor, or company that is in the business of administering trusts. An experienced Orange County trust lawyer can help guide you through the process of choosing the trustee that is right for your trust.

Why should you consider a corporate trustee if you are using a common pot trust? The following are several reasons:

  • The success of a common pot trust in California may depend on the ability of a trustee to be impartial. If the trustee favors one beneficiary over another, the result may be that one beneficiary receives the majority of the trust’s assets without regard to the other beneficiaries.
  • A common pot trust relies on the discretion of the trustee to make decisions based upon your stated goals and guidelines.
  • Corporate trustees are experienced with administering trusts and understanding the impact of discretionary asset distribution decisions.
  • Corporate trustees are familiar with the unique issues that arise with young beneficiaries.
  • Corporate trustees have tools at their disposal to properly invest trust assets over the long term.
  • Friends or family members serving as trustees may have difficulty with impartiality. Personal relationships can interfere with decision-making.

To learn more about corporate trustees and common pot trusts, contact the knowledgeable Orange County trust attorneys at the Law Office of James F. Roberts & Associates, APC. Call our office today at (714) 459-5481 for a consultation.

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