Can my financial advisor be my personal representative in my will? nt

[raccoon]

[A HERETIC I AM]

1. What do you mean by "Personal Representative"? Executor, perhaps?

Or someone that has Power of Attorney?

[raccoon]

2. I meant Executor, in the event that

I'm most sincerely dead. :-)

I am thinking of having a family member have my POA and durable POA.

Thing is, I don't at this time in my life--want to leave my assets (if there are any--to family members.

[A HERETIC I AM]

3. Your FA can most certainly be your Executor.......

You should look into placing your assets into a Trust, either revocable (where you can change the terms while you are alive) or non-revocable) where the terms can not be changed) because in many states a will can be contested. A trust typically allows your assets to avoid the Probate process. Probate can be costly and is most certainly public. A trust can avoid this. If you pick a disinterested 3rd party as trustee, they serve as an impartial person that can act as you wish and not be swayed by family members looking to get their fingers into your assets.

[scruffy]

4. You also need to make sure your FA is ABLE to serve as trustee . . .

depending on how he/she does business, they may be prohibited from serving as trustee - too much potential conflict of interest.

[raccoon]

5. Thanks for that info! A trust might be a good idea. nt