Time and time once again, people name one kid as a Trustee. That is a great method to make sure that your other children and successors will contest the administration of the Trust.
Regrettably, he named his son, Lee Kun-hee, Trustee of his Trust. According to reports, Kun-hee was supposed to distribute the Samsung stock in the Trust to the recipients, including his bro and sis.
However, his siblings allege that he transferred the stock into his own name. They claim he unlawfully moved $877 million worth of stock.
If you have that much cash, there is no reason not to work with a professional Trust Administrator. You do not even need anywhere near that much cash to hire a professional. One of the crucial objectives of any estate plan ought to be to minimize the probability of household conflict over the estate. When you call a member of the family as a Trustee, you do the specific opposite.
Talk to your estate planning attorney about employing an expert Trust Administrator to be the Trustee for your Trust.