After you are gone: Using letters of intent to coordinate the roles of guardians and trustees
Document Type
Article
Publication Date
2024
Department/School
Marketing
Publication Title
Journal of Financial Service Professionals
Abstract
Clients with special needs, especially those whose disabilities present in childhood, may be beneficiaries of one or more special needs planning tools while subject to guardianship. Each of these tools brings into play the opportunity to provide guidance for coordinating the wishes of the grantor with the responsibilities and obligations of other third-party entities such as guardians and trustees. To avoid potential conflicts and provide maximum protection to the beneficiary, this article reviews the issues likely facing the grantor(s) and provides strategic guidance to financial planners to advise clients on how to effectively coordinate each of these roles.
Recommended Citation
Hershey, L. B. (2024). After you are gone: Using letters of intent to coordinate the roles of guardians and trustees. Journal of Financial Service Professionals, 78(1), 48–53.
Comments
L. B. Hershey is a faculty member in EMU's Department of Marketing.
This article won the journal's Kenneth Black Jr. Journal Author Award for 2024.