Leaving your final wishes to someone else can be a daunting prospect. Your Personal Representative or Successor Trustee could steal it all, but it is very unlikely if you plan correctly.
Just a likely they could rob a bank. In reality is Personal Representative and Successor Trustees don't steal from estates. Most often your estate is protected because you picked a trustworthy person.
In Oregon, the Probate Court will keep an eye on your estate.
Beneficiaries will also keep a close eye on the Personal Representative or Successor Trustee. If they smell anything fishy, they have options for correcting the situation.
Personal Representatives and Successor Trustees have lots of power. Their power comes from your Will or Trust and the State Laws.
Generally, they can do most anything that achieves your wishes and desires. However, they can't do anything illegal.
There are really four main duties for both Personal Representative and Successor Trustees.
If you'd like to learn more or have any other Estate Planning questions, please schedule a complimentary Estate Planning Strategy Session.
Father, husband, entrepreneur, and owner of a trivia filled brain. I help families and individuals plan for the unexpected and end of life. Schedule a Complimentary Strategy Session to chat with me, get answers to your questions, and find out about your Estate Plan options.
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