Should You Consider a Retirement age for Fiduciaries?

Should You Consider a Retirement age for Fiduciaries?

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.