There are times when a trust is part of the estate plan. Rather than go into experiences I have had with trusts themselves, I will share something I have found in the trusts, something that can benefit from careful consideration.

Who does an executor benefit-the initial beneficiary or the ultimate beneficiaries who might not share the same financial concerns as the primary beneficiary. For example, the deceased may have left instructions to provide income to the initial beneficiary without specificity. Further, the documents may direct that the remaining capital be distributed to the remaining beneficiaries after the primary beneficiary’s death. Who does the executor benefit, without conflict?

When you have a trust document naming a primary beneficiary and then, adding subsequent beneficiaries, I think it is vital for the trust grantor to add a description to their ultimate intention. Once they have passed away, the deceased can’t add to the conversation about what they “really” wanted.  Their voice is now expressed by their executor. Once the grantor is passed, everyone may now have their own interpretation of what the deceased intended. That can be a problem.

Who does the executor serve?