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[quote=Anonymous][quote=Anonymous]Having recently closed my aunt’s trust, I do not see a time advantage in them. It still took almost 2 years to completely close and distribute the assets even though all assets were held in the trust. And I did everything as speedily as could be done, usually within a day or two of my next action, I had completed it. but between tax forms and lawyer timelines and release form, it just took a long long time[/quote]

Something to consider is you need trustees you trust who are willing to do what OP did. Also, even if people agree to be trustees, they can resign at any time and you will have to pay a financial services company to do it. Also, if you ask someone to be a trustee, that person can ask you to do the same. If they are financially complicated you may not want that job. My friend did it for a sibling who was litigious and also got sued multiple times. There were still lawyer fees for suits and other things to deal with when her sibling passed. There were a lot of other complicated issues where she wished she had never gotten involved.[/quote]

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