Better Than an Agent

by Tom Olofsson, Attorney at Law, www.MyTrustLawyer.com (773) 905-1193

Sometimes a power of attorney is not the best way to insure that someone you choose will be ready to help you when you need it.

In these situations a better choice may be to set up a trust.

A trust can have, built into it, helpers who are able to act for you when you are unable to visit the bank on your own. The helpers named in a trust are known as so-trustees or successor trustees. The trustees you choose are often better able to assist you than the agent in a power of attorney.

You can be the trustee of your own trust. The successor trustees you pick are ready to help you when you need it.

Banks and brokerage firms do not get in the way of successor trustees in the same way they do with agents under powers of attorney.

by Tom Olofsson, Attorney at Law, www.MyTrustLawyer.com (773) 905-1193