A trustee has powers to manage the trust assets including purchasing, selling and transferring assets. The trustee is expected to act in a reasonable and cautious manner. The settlor should consider the experience and qualifications when appointing a trustee and choose someone that will get along with the beneficiaries. When there are large estates with many assets, including real estate, a bank or trust company may be better qualified to act as the trustee than a surviving spouse or child who may not have the expertise or time it takes to manage the trust assets.
The decision to make a trust should be discussed with an experienced Miami probate and estate attorney. If you wish to speak to a Miami estate attorney, call the Law Offices of Albert Gurevich at (786) 522-1411.