What is the purpose of setting up a Trust? It is a method of financial planning to take care of our assets the way we want them to be taken care of should we pass away. For others with a young family there is also the designation of financial and physical caregivers for young children. A Trust is set up by Trustees and it is usually themselves. But what happens when there’s a “change in management”? Will the new Trustees follow the directions set down by the old Trustee and stated in the Trust Agreement?
Here is a story from the trenches of our escrow world!