When you set up a trust for your family, you need to consider who will be the right person to execute your trust, manage your asset and distribute to beneficiaries according to the trust. Option 1. Your children. The problems are a) Are they too young to do so? b) Are they really responsible as you are? c) Are they interested?Option 2. Your relatives. Are they in your age group? If they are much younger than you and older than your children. This may not be a bad option.Option 3. Your friends. Are they in your age group? If they are much younger than you, can you really trust them. Even you choose this option, you still need secondary, tertiary as permanent executer in case they died or move away.Option 4. Attorney's office. Normally Attorney sets up a trust and not necessary executes it. Besides, the attorney's office can be closed. Option 5. Banks. They normally last forever and are trustful on long terms.Option 5 is a permanent solution. They have estate planning expert in house. They offer some free consulting. They also have Real Estate department which has connections to local property management companies. They will charge certain fees percentage wise based on your total asset amounts. However you don't need to pay a penny until both you and your spouse are gone.You are welcome to add your thoughts. I hope that we get multiple workable solutions.
