Trust Admin 101: A Crash Course with Meier Law.
On this episode we sit and talk with Josh Meier of Meier Firm about what you should do first if you are chosen as a family Estate Trustee. While it’s an honor that your parents named you Trustee of the Family Trust, mom and dad just gave you a full time job that requires you to be a CPA, lawyer, financial advisor, insurance agent, property manager, real estate agent, and family psychologist all at the same time. You are going to have family member and beneficiaries think you are stealing, people calling for money and fighting over your parents favorite painting. This episode is a crash course on what are the first steps you should take to ensure a smooth outcome for everyone involved. The first step should be hiring a great law firm that handles trust administration to help you through the process. Hiring a professional will most likely save the estate thousands of dollars in taxes and improper distributions.
Be sure to get a copy of Laura Meier’s book, Good Parents Worry, Great Parents Plan.