Hi. Lee Phillips. I want to talk about a couple of couple of issues associated with your trustees. One we’ve talked about in another YouTube video who you name and the considerations in naming the person and I’ve said that you probably want to name one of the kids as a successor trustee. actually what you’re going to do is you’re going to list probably each one of the kids if you got ten kids
and the kid is on the bottom of the list he’s probably not going to end up being
the successor trustee. There’s a way to the top and the way to word it is is if child one for some reason can’t or won’t act as trustee then we drop to child two, drop to child three now that doesn’t have to be age ordered it could be ordered by the other factors that we talked about but I would list actually all the kids. It’s just nice to know the mom and dad remembered me they thought enough about me I’m on the list. Why hurt somebody’s feelings? The chances of a member serving as successor trustee when they’re fifth down the list isn’t very good anyway. We make out a list. We list a number of folks. Now if you don’t have kids you’re going to name friends uncles aunts brothers sisters I don’t know you’re going to name but I want to see three or four on this list because for one reason or another number one may not be able to do it so we’ll drop to number two, drop to number three if two can’t do it if there’s successor trustees that are joint trustees then we’ll take the first two qualifying from the list. So name all the kids usually even though they’re not going to ever serve because they’re way down the list. It just doesn’t hurt anybody’s feelings and why hurt somebody’s feelings? I mean that’s probably the last thing you want to do to your kids is hurt somebody’s feelings. So we name the list and and drop it all the way down that way. You could have, like I say, banks you could have lots of other people at any rate. Name the trustees. Name all of the kids. we choose the kids based upon qualifications like I say, we talked about the qualifications of the trustee in another video. This is Lee Phillips I’m talking on listing successor trustees.