This week I came upon an interesting article called “Sibling Scorned” in the March issue of Private Wealth. Click “link” to read the article.
Basically, it discusses the battles that may ensue between siblings during the trust distribution phase after mom and dad pass away. My thoughts on this are quite simple. When constructing trusts, clients should seriously consider taking their children out of the decision making equation and appoint a corporate trustee to administer the trust after they pass away. If cost is a concern, clients should consider what is more expensive, the trustee fee, or litigation costs. Chances are, the litigation costs will be far greater.