Choosing the right trustee can protect a family’s legacy—or create years of conflict. In this episode, Tom Moss breaks down what trustee selection really means and why it goes far beyond picking the child who is “good with money.” He explains the true definition of a fiduciary, the legal duties involved in trust administration, and the emotional weight placed on someone asked to manage assets for siblings or loved ones.
Tom walks through the practical differences between trustees and personal representatives, common family conflict triggers, co-trustee pitfalls, corporate trustee pros and cons, and Florida-specific considerations like annual accountings and U.S. citizenship requirements.
If an estate plan is meant to preserve both wealth and relationships, this conversation offers a clear roadmap for doing both well.
In this episode, you will hear:
- What a fiduciary really is and the legal duties of a trustee
- Trustee vs personal representative and why court oversight matters
- Common family conflicts when a sibling serves as trustee
- Family trustee versus corporate trustee pros and cons
- Annual accounting requirements and prudent investment standards in Florida
- Red flags in trustee selection including co-trustee pitfalls
- How clear trust guidelines can reduce emotional burden and future disputes
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