Here is the continuation of trustee skills. If you haven’t seen the first part, check it out here.
Here is the list of skills from this videos:
- Reads books on trust
- Good credit rating
- no political affiliations
Trustee with experience requirements
- Familiar with investment opportunities
- 35 years or older
- 3 years trust experience
- Familiar with trust legal cases
- Familiar financial institutions
- Handling beneficiaries
- Understands K-1s and 1040s
- The secret skill 😉
While this is not a list of all the skills one should have to run a trust smoothly, these will get the job done and hopefully keep your or the trust you’re running out of harms way. If your trustee is a life long learner, then they will stay abreast of anything that would effect the trust.
With this understanding, how does this affect your thoughts about having and/or running a trust? Leave your comments below.