Trustee & Executor
INDEPENDENT TRUSTEE & EXECUTOR SERVICES
Although it is always a difficult decision, it is very common for individuals and families to retain an Independent Trustee or Executor to handle specific tasks, which they are unable or unwilling to provide for themselves, or because they simply can no longer handle dealing with a specific situation.
The partners and staff of Ryan, Christie, Quinn & Horn, represent several individuals and families as Trustees, generally relating to the following circumstances:
- The parents do not get along with some or all of their children, or they do not trust any of their children to be fair to the other children in their estate plan.
- The children do not get along with each other, and the appointment of an Independent Trustee reduces the drama and animosity in finalizing and distributing estates in a business-like manner.
- One of the children may be working in the family business, and the other siblings are working elsewhere, or not working at all. There is often significant animosity between the child in the business and the children not in the business, which unfortunately, absent having an independent trustee being appointed to run the estate, can result in families being torn apart after the parents pass away, generally over very petty issues.
- One of the children does not prudently handle their finances, and is constantly asking the parents for more money. The parents retain a Trustee to establish budgets and to enforce those budgets, taking the parents out of the loop.
- A widow or widower without children, needs someone to write checks to pay their bills; and needs assistance with arranging for caregivers to come to the home. This service can be accomplished, without the formal naming of an Independent Trustee.