Special Trustees & why your Trust needs them.

A Special Trustee is a fiduciary appointed to hold exclusive authority or is entrusted with exclusive Trust powers over a particular Trust asset. The most common reason for a special Trustee is when there is a professional practice, business, or complex property—or to act when conflicts of interest arise for the primary trustee.

Often Special Trustees are used as another layer of asset protection for the heirs of a Trust, making sure that no creditors can reach the inhertiance. They are also often used in sensitive family situations or to manage special needs trusts, focusing on specialized, limited tasks. Or sometimes to wind up or sell a professional practice. Moreover a Special Trustee is used to help when a trustee has total discretion to distribute trust assets to himself or his dependents, the assets of the trust may be included in his estate for estate tax purposes. CompleteMyEstatePlan trusts always contain provisions for a Special Trustee making sure your trust protects at every circumstance and every stage of life.