Most everyone in Washington, DC who has a trust knows how important the choice of a trustee is. Administering trusts can become difficult when the desires of the beneficiaries are at odds with the provisions of the trust. This is just one reason why it is important to choose a trustee that is able to make difficult decisions with which the beneficiary may not always agree.
Medical advancements have yet to change one thing that has been true for decades -- on average, women outlive men. The U.S. Census Bureau reports that 36 percent of women over the age of 65 are widows. Alternatively, only 12 percent of men in the same age group are widowers. This presents a different set of challenges for Washington, DC women when estate planning.
Many wealthy parents in the District of Columbia are afraid that giving their children an outright inheritance will keep them from meeting their potential. Fortunately, estate planning can help parents provide an inheritance to their children while encouraging them to find their own way in the world. Trusts may be used to accomplish this goal.
Many District of Columbia residents have an estate plan. However, some may fail to handle a few additional details that could make the probate process much smoother when the time comes. Periodic routine maintenance of an estate plan can prevent family members from encountering unnecessary roadblocks or complications.