Not even the very rich are immune from fundamental estate planning mistakes. Time and time again, individuals name one child as a Trustee. That is a fantastic method to make certain that your other kids and successors will contest the administration of the Trust. A recent example concerns the estate of Lee Byung-chull who died in 1987. In his life, he established Samsung.

Unfortunately, he called his son, Lee Kun-hee, Trustee of his Trust. According to reports, Kun-hee was expected to distribute the Samsung stock in the Trust to the recipients, including his sibling and sibling.
However, his siblings allege that he transferred the stock into his own name. They claim he unlawfully moved $877 million worth of stock.

If you have that much loan, there is no reason not to hire a professional Trust Administrator. You do not even need anywhere near that much cash to hire an expert. One of the key objectives of any estate plan need to be to decrease the likelihood of household conflict over the estate. When you name a member of the family as a Trustee, you do the precise opposite.
Talk to your estate planning attorney about hiring a professional Trust Administrator to be the Trustee for your Trust.