Consider a not uncommon scenario where a client, close friend or relative asks you to serve as trustee for a trust he or she is creating or has created. Most people, feeling honored, automatically say "yes." Many professional tax and legal advisers, however, recommend that a person asked to serve as a trustee takes the proverbial step back to consider the potential downside.
Consider Responsibilities Before Serving as a Trustee
The Legal Intelligencer
August 8, 2013