A grantor who desires to manage his or her own financial affairs and who is physically and mentally able can (and ordinarily should) serve as trustee. But provisions should be made in the trust for a successor trustee to take charge in the event the grantor becomes unable to continue for any reason or in the event of the grantor`s death. Or, the grantor may simply desire to be relieved of asset management responsibilities, whether temporarily or permanently.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified estate planning lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local estate planning attorney to discuss your specific legal situation.