One of the most emotionally painful things for any Texas son or daughter to experience is to witness his or her parent lose the ability to think clearly. The fact is, dementia, Alzheimer's disease, strokes and other mentally incapacitating conditions happen to a lot of parents as they get older. The most common way that children navigate these issues involves taking control of their parents' estates by obtaining guardianship over their affairs; however, guardianship alternatives can also be chosen.
Posts tagged "trustee"
Setting up a trust is one thing. Choosing the person who will be in charge of investing the assets within the trust is another. That person must be skilled at maintaining records, handling taxes and staying on top of payments to the beneficiaries of the trust. That person is the trustee, and he or she will usually be a family member, trusted friend, financial professional or perhaps yourself. Alternatively, hybrid trusts exist in which a Texas trustee is named to administer the trust, but a financial professional is hired to invest the assets.