Calfee’s Jaclyn M. Vary Authors Crain’s Cleveland Business Article on Selecting Trustees for Multigenerational Wealth

Calfee Estate and Succession Planning and Administration Partner Jaclyn M. Vary authored the Crain's Cleveland Business article,"Choosing Trustees for Multigenerational Wealth: Why the Right Successor Matters." The article examines the critical role that successor trustees play in the long-term success of estate plans and in the preservation of family wealth.

In the article, Jaclyn explains that while estate planning often focuses on trust structures, tax efficiency, and asset transfer strategies, selecting the right successor trustee is one of the most important - and frequently overlooked - decisions families make. She notes that even the most sophisticated estate plan can fall short if it is administered by an individual or institution that lacks the necessary skills, judgment, or continuity to carry out a family's long-term objectives.

Jaclyn discusses key considerations when evaluating trustee candidates, including fiduciary responsibilities, administrative capabilities, family dynamics, and the need for impartial decision-making. She also explores how professional and corporate trustees can provide continuity, reduce conflicts, and help ensure trusts are administered in accordance with a family's goals across multiple generations.

The article highlights the importance of aligning trustee selection with broader wealth management and succession planning objectives, emphasizing that thoughtful trustee appointments can help preserve assets, mitigate risk, and prepare future generations for long-term financial stewardship.

Read the full article here.

The attorneys in Calfee's Estate and Succession Planning and Administration group help individuals and families make some of the most important decisions of their lives. From the owner of a family business dealing with corporate succession issues to a CEO planning for retirement to a couple handling their sometimes-competing responsibilities for children and parents, our estate planning lawyers assist our clients in developing and implementing comprehensive estate plans that carefully balance personal goals with tax and administrative concerns.

Calfee, Halter & Griswold LLP is a full-service corporate law firm with 160 attorneys and professionals in offices in Cleveland, Columbus, Cincinnati, and Indianapolis. Calfee serves clients in the Midwest, nationally and globally in the areas of Corporate and Finance, Employee Benefits and Executive Compensation, Energy and Utilities, Estate and Succession Planning and Administration, Government Relations and Legislation, Intellectual Property, Labor and Employment, Litigation, and Real Estate Law. Calfee has been recognized as a leading law firm by Chambers USA 2026 in Antitrust, Banking & Finance, Construction, Corporate/M&A, Employee Benefits & Executive Compensation, Energy & Natural Resources, Environment, Government Relations, Insurance, Intellectual Property, Labor & Employment, Litigation: General Commercial, Litigation: White-Collar Crime & Government Investigations, Public Finance, and Real Estate, and by Chambers HNW 2025 in Private Wealth Law. A founding member of Lex Mundi, Calfee offers international representation through a network of independent law firms with access to 22,000 attorneys located in more than 125 countries. Additional information is available at Calfee.com.

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