In this Elder Law and Estate Planning Minute, Wes Coulson discusses why it’s important to consider a retirement age for fiduciaries during estate planning.
Should you consider a retirement age for fiduciaries?
Transcript:
Hi, I’m Wes Coulson and this is your Estate Planning Minute.
One of the things that I enjoy telling my estate planning clients is that they’re not quite dead yet. Why is that important? Because we tend to look at our estate plan with regard to the circumstances as they are now, rather than what they are going to be when the documents play themselves out. For instance, you may have named a sibling to be your POA agent, your executor under your will or a trustee of the trust. But what if you are 84, and your sibling is 82? Are they still going to be a good choice?
One of the things we like to do is talk to people about considering putting in a retirement age in for fiduciaries in your estate plan. It’s easy enough to accomplish, but something that people don’t necessarily think about. So, if we help you, that’s something we’re going to talk about. Thanks.
For more about Estate Planning and Fiduciaries, visit:
- The Problems with Naming Co-Fiduciaries
- Common Estate Planning Mistake #3: Assuming that you can always change things later
- Safeguarding Your Estate Plan
Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (877)995-6876 or Contact Us and we will get in touch as soon as possible.
