In reality, trustees are often too lazy or stupid to do their job properly, the administrators charges too much for fees, and often the account falls under effective control of one person. That person could be an angel or a cheat, and your fortune and children's well being are left to uncertainty.
Therefore it is important to appoint responsible trustees, family members cannot be assumed to be dilligent/smart enough, and non-family members should not be automatically ruled out. I, for example, would rather have my trusted friends than some of my family members to be trustees.
Therefore it is important to appoint responsible trustees, family members cannot be assumed to be dilligent/smart enough, and non-family members should not be automatically ruled out. I, for example, would rather have my trusted friends than some of my family members to be trustees.
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