The first part of my earlier post seems to be getting overlooked.They don't just need a successor trustee. They need an initial trustee....
As a last resort, consider naming an institution as successor trustee. I think Vanguard may accept this role (at their discretion) if the asset base is sufficient. Perhaps you could find a corporate trustee that would be willing to live within the guidelines of your Trust IPS.
Since they don't have suitable individuals, and since both children have special needs, they may want to consider a bank or trust company. It's more than just a last resort in this case.
Vanguard is 0.55% a year. Schwab is 0.5% a year. Fidelity is about 1% a year. Since both chlidren are special needs, they may want to consider a conventional bank or trust company. They're generally about 1% a year, more on small trusts and less on large trusts.
I initially suggested that the OP teach the guardian the needed skills to be a suitable trustee due to the concern(s) about costs and investment choices. If that's not possible, then the "last resort" action is warranted.
Regards,
Statistics: Posted by retired@50 — Tue Sep 23, 2025 2:12 pm — Replies 9 — Views 523