Many parents form trusts to ensure their children are cared for after their deaths. Although you can manage this agreement while you’re alive, you’ll need to select someone to take over once you’re gone. This is an important decision that shouldn’t be taken lightly since they’ll have access to your estate and can influence your kids’ futures. As you begin your search, keep these three qualities in mind.

3 Traits You Should Look for in a Trustee

1. Trustworthy

Make sure you trust your trustee’s character since they’re responsible for ensuring your family is cared for as you intend once you’re gone. They’ll need to use their good judgment to make important financial decisions on your children’s behalf. Shy away from people that gamble and live paycheck to paycheck.

2. Impartial

Your trustee needs to follow your estate planning documents to a tee, regardless of whether or not they agree with your mandate. They shouldn’t be easily swayed by outside influences, like beneficiaries, or let their opinions and preferences stop them from following your wishes.

3. Financially Savvy

There are many responsibilities that come with overseeing a trust, including the complicated process of filing its tax returns. The person you select will likely have to handle multiple tax schedules, as well as report the trust’s income, deductions, gains, and losses. To ensure your accounts are properly managed, choose someone that’s organized, responsible, and good with finances.

If you want help choosing a trustee, turn to the legal team at Wills and Trusts Hawaii in Honolulu. These professionals will take the time to help you pick the right person to manage your estate, then update the trust to reflect the change. Visit them online to get more information about how they can help, or call (808) 792-8777 to schedule a free consultation.