Most family members who take on the role of managing a trust have no idea what they'll need to do. Financial planners can protect clients asked to take on this responsibility by advising them to review the responsibilities with their own lawyers to ensure that they understand the risks. The clearer the language in the trust, the easier it will be for your client.

For example, if a trust states that money can be used for a child's health, education and welfare, does that include buying a car to get to class? Clients should never accept the role of trustee unless they understand the document fully.

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