Clients create estate plans to ensure they age on their terms and that their wishes are honored after death. Fiduciaries—successor trustees of a trust, executors of a will, and attorneys-in-fact for a power of attorney—step in when individuals become compromised or pass away. Fiduciaries manage your affairs and safeguard your directives from outside influences, making their selection crucial and often challenging. 

When naming fiduciaries, prioritize trustworthiness and a strong moral compass. Look for candidates who are organized, capable, attentive, and business minded. In a revocable trust, a successor trustee manages assets if you become incapacitated and oversees their distribution after your death. An irrevocable trust’s trustee has similar responsibilities. Executors under a will handle comparable tasks. Since these roles often take effect long after you appoint them, choose backup trustees and executors, including at least one younger than you, to ensure they can step in when needed. 

A durable power of attorney for financial matters appoints an attorney-in-fact who handles bill payments and tax filings if you are unable to do so. Like trustees and executors, attorneys-in-fact should be reliable and business minded, but their authority ends at your passing. 

You do not need financial experts for these roles. Most estate plans give fiduciaries broad authority to hire professionals for specialized tasks. If you lack suitable candidates or have a complex family situation, consider a vetted professional fiduciary. Corporate trustees, for example, offer impartiality and expertise, though they might not understand family dynamics and often charge higher fees. Sometimes, splitting fiduciary responsibilities can help: a corporate trustee can handle asset distributions at death, while a family member manages a special needs trust. 

For healthcare directives, choose someone trustworthy who can navigate hospital environments and make tough decisions under pressure. This fiduciary must be ready to authorize procedures or refuse treatments you do not want, even in the face of medical or family pressure. 

When selecting fiduciaries, focus on their strengths and weaknesses rather than family politics. If your views change over time, consult your estate planning attorney about amending your documents to ensure they still align with your wishes.    

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