Page 8 - Southern Exposure - August '24

Page 8, Southern Exposure BW

FinanCial FoCus

Whom Should You Choose As A Trustee?

By Sally Sima Stahl

When drawing up your type of trust, if any, is appropriate for your situation, and Here’s something else to think about: Instead of
estate plans, you might to get some guidance on the wisdom of serving as your choosing an individual, you could name a corporate
find it useful to create a own trustee. trustee. By doing so, you can receive some key benefits,
revocable or irrevocable If you decide to choose someone else as trustee, you’ll such as objectivity and potentially avoiding some of the
trust, either of which can want to consider the following factors: family-related disputes that can arise when an estate is
help your estate avoid • Trust – In thinking about whom you might want settled. Also, corporate trustees have the expertise and
probate court and give you to serve as your trustee, the most important attribute is resources to navigate the various tax and inheritance laws
significant control over how trust. Do you trust that this individual will always act affecting living trusts.
and when your assets are in your best interest? If so, then they may be a good Whether it’s a trusted individual or a corporate entity, the
distributed. But who should trustee candidate, but you’ll also need to look at other right trustee can make a big difference in the effectiveness
oversee your trust? considerations. of your living trust — and, by extension, the outcome of
As the person who • Financial management skills – The person you choose your comprehensive estate plans. So, start your search, get
established the trust — known as the “grantor” or “settlor” to be your trustee doesn’t have to be an accountant or a the help you need and take the steps necessary to arrive at
— you can also name yourself as trustee. However, this financial professional — but they should be skilled at a choice for trustee that’s right for you and your family.
may not be the best move, particularly if the trust is managing their own finances. And they should be well- This article was written by Edward Jones for use by
irrevocable. An irrevocable trust protects the assets in organized and good with details. your local Edward Jones Financial Advisor, Edward
the trust from creditors and civil judgments, but if you • Mental and physical fitness – Your trustee could serve Jones, Member SIPC.
serve as trustee, this protection will disappear. It might be in that position for many years, so you’ll want to name Edward Jones is a licensed insurance producer in
more advantageous for you to be the trustee of a revocable someone who is in good physical and mental health. Of all states and Washington, D.C., through Edward D.
(living) trust, which can be modified without much trouble course, things can change over time, so if you observe Jones & Co., L.P., and in California, New Mexico and
and allows you to move assets in and out of the trust and that your chosen trustee has begun to suffer physical or Massachusetts through Edward Jones Insurance Agency
to change trust beneficiaries. You should work with a mental decline, you may need to name a successor trustee of California, L.L.C.; Edward Jones Insurance Agency of
qualified estate-planning attorney to determine which in your trust document. New Mexico, L.L.C.; and Edward Jones Insurance Agency
• Conflict of interest – You want your trustee to carry of Massachusetts, L.L.C.
NEED A/C? We’ve Got You Covered! out your wishes in a fair manner — so, you should pick Edward Jones, its employees and financial advisors
cannot provide tax advice. You should consult your
someone who doesn’t have a conflict of interest with any
of the beneficiaries you’ve named in your trust. Of course, qualified tax advisor regarding your situation.
this can be tricky if you want to name a family member as Contact us at (561) 748-7600, Sally Sima Stahl, CFP ,
®
trustee. So, if you do, you’ll need to spell out your wishes AAMS , 1851 W. Indiantown Road, Ste. 106, Jupiter, FL
™
“WE SHOW clearly — to the trustee and to other family members. 33458.

UP!” all about Kids

Autism Or Just An Awkward Kid?

By Jim Forgan, Ph.D., Licensed School Psychologist

A concerned mom appropriate behavior, his interaction came across as
Call Today for a FREE estimate! came to me seeking scripted or practiced. While talking with him I learned
561.575.2173 insights on her son’s he had an advanced vocabulary and could converse
231 Jupiter St., Jupiter, FL behavior. She explained, about many different topics. He understood humor and
www.MiklosAir.com “Sometimes Joseph can idioms such as, “She let the cat out of the bag.”
seem zoned out and My school neuropsychological testing with Joseph
not always in tune with revealed two main contributing factors. First, he had
Editorial copy appearing herewith is not necessarily the viewpoint of what is going on around low cognitive flexibility which is a fancy term for
Seabreeze Publications of Central Florida. Most editorial copy is created by him. He can be socially flexible thinking. His mental rigidity contributed to him
the homeowners and is edited by their appointed editor. awkward at times. He can being a blacker and whiter thinker. He saw things his
also be so hyper-focused way which created his social awkwardness. The second
on something like his factor was slower processing speed which helped
hobby and interest. He can get easily bored and likes to explain why he seemed zoned out at times. In certain
be pretty active all of the time which is a good thing but situations, Joseph quickly used up his mental fuel
sometimes it is hard for him to relax.” This mom wanted which resulted in mental fatigue. When this occurred
to know if her son might have autism, ADHD, or anxiety he disengaged and seemed out of touch with what was
Seabreeze Publications so she knew how to best support him. going on around him.
Upon meeting Joseph for the first time, he presented I helped create a plan and recommended activities he
Publisher as a well-groomed and athletic adolescent. He was could do to improve these areas. Mom planned to share
M. Sean Reid slightly rigid in his social mannerisms as if he had been the report with his school. Call (561) 625-4125 if you are
S. Miller • E. Miller taught skills such as greeting someone by looking them concerned about your child and would like understanding
in the eye and shaking their hand. While this was an and answers. Our website is JimForgan.com.
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