Do your clients know what it means to be a trustee?

They may believe being a trustee gives them absolute discretion over how a trust is handled. But there are investment rules and contracts that must be considered.

Check out these client-friendly articles on AdvisorToClient:

Your role as a trustee

How to use testamentary trusts

Use trusts for incapacity planning

Can you trust your heirs?

They’re easy to share, just use the email tool on each article page, or share them using LinkedIn, Twitter, or Facebook. And don’t worry, if you use our share tools the versions you send clients won’t link back to AdvisorToClient or Advisor.ca.

If a client mentions she’s been named a trustee, sit down with her to review her future responsibilities and ensure she knows what she’s getting into. It’s hard work.

You can also help her understand the provincial legislation that applies to her new role.

Or, if she mentions she’s interested in setting up a trust for her own needs, show her the difference between testamentary and other types of trusts.

AdvisorToClient is your trusted resource for information you can send to your clients on trusts and a variety of other financial planning topics.

Originally published on Advisor.ca

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