The Difference Between a Trustee and an Executor
The generation-skipping transfer tax imposes a 40% penalty on wealth transferred to grandchildren. Here's how it works and how to avoid this expensive trap.
Being an executor sounds like an honor — until you're drowning in paperwork, family conflict, and legal liability. Here's what the role actually involves.
Appointing a trustee is one of the most important decisions in estate planning. A trustee is responsible for managing trust assets, following the trust’s instructions, and acting in the best interests of the beneficiaries. But what happens when the person you trusted to carry out your wishes becomes the problem? Whether through neglect, incompetence, or conflict, a trustee who isn’t performing well can create stress, delay distributions, and even damage family relationships. Let’s explore when — and how — to take action if your trustee becomes more of a burden than a blessing.