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It’s a daunting process to administer any estate, but a trust estate, if you’re unfamiliar, you have to realize that you take on personal responsibility as a trustee, particularly if you may be held to a higher standard if you have a background in law or tax or anything like that. But you’d wanna hire an attorney to guide you, because there are just too many tax issues. There’s too many investment issues. There are too many issues involving the assets, too many liabilities to just try to do it yourself. It’s better to have someone who can draw the map for you to follow.
Phoenix, AZ estate planning attorney Michelle A. Booge talks about why it would be too hard for someone named a trustee to carry on their duties without a lawyer.