Choosing With Seven Generations In Mind

 Not Appointing the Right Fiduciary

Serving as the executor of an estate, the trustee of a trust, or an agent under a financial power of attorney requires a huge commitment of time and effort and absolute honesty. When determining who should be named in these important fiduciary positions, the personality traits and skills of the appointee should be carefully considered. It would be a big mistake to name someone in one of these fiduciary positions who:

• does not communicate well with the beneficiaries,
• does not read (or listen to) and follow the instructions of the attorney advising him,
• procrastinates in getting things done,
• is not 100 percent trustworthy,
• may be susceptible to the (bad) influence of his or her spouse or someone else,
• is arrogant, conceited, or a “know it all,”
• is disorganized and/or loses things, and
• is lacking in common sense.