Legal Tea Episode 239. Current Trends - The Estate Planning Crisis Nobody's Talking About
Mar 10, 2026
A growing shortage of professionals willing to act as executors, trustees, and agents under power of attorney. Why banks and trust companies often are not viable alternatives for ordinary estates. How geographic limits and steep institutional minimums leave many families choosing unprepared relatives or friends. A call for new business models, training, and more professionals stepping into fiduciary roles.
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Rising Demand For Professional Fiduciaries
- There is a growing societal preference for professionals (lawyers, accountants, financial professionals) to serve as executors, trustees, and agents rather than family or friends.
- Jenny Rozelle links this to desire for neutrality, expertise, and treating fiduciary tasks as a job rather than an emotional family burden.
Why Banks Aren't The Easy Fix
- Banks and trust companies will serve as fiduciaries but usually require a direct client relationship that transfers asset control to them when they step in.
- They also impose high estate-value minimums (typically in the millions), leaving many moderate estates without that option.
Severe Shortage Of Individual Fiduciaries
- The supply of individual professionals willing to serve as fiduciaries is extremely small and not keeping up with rising demand.
- Jenny Rozelle reports being one of fewer than five professionals in central Indiana and limiting acceptance to her firm's clients.