Last month, we discussed the basic structure of trusts, to which three different parties have specific obligations and privileges:
Grantor – establishes the trust
Trustee – manages the trust’s assets
Beneficiary – receives benefits from the trust
The trustee accepts the responsibility of managing a trust’s finances and selecting investment vehicles in line with the purpose and goals of the trust’s founding document.
Naturally, choosing the right trustee to administer your child’s special needs trust is a big decision. We’ve compiled an infographic to help you get started.
The trustee for your child’s special needs trust will be tasked with supporting your child’s future. If you’re exploring your options for a trustee, feel free to contact Milestone Consulting for additional advice.
ABOUT JOHN BAIR
John Bair has guided thousands of plaintiffs through the settlement process as co-founder of Milestone Consulting, LLC, a broad-based settlement planning and management firm. Milestone’s approach is comprehensive and future-focused. John’s team has guided thousands of clients by taking the time to understand the complexities of each case. They assess the best outcome and find the path that enables each client to manage their many needs. Read more about Milestone Consulting at http://milestoneseventh.com/.
A West Point graduate where he served as captain and military aviator, John Bair continues his commitment to our country through his efforts within the settlement planning industry. He has represented families of victims lost in the Flight 3407 crash, offered pro bono services to the families of 9/11 victims and drafted the first consumer protection bill for plaintiffs (H.R. 3699).