Eight Reasons to Consider a Corporate Trustee

One of the many decisions that clients are faced with when creating a trust is “who will be the trustee(s) and should you use an individual or an institution?” This seemingly simple decision is one of the most important.

While the trust outlines your wishes, wants, directions and desires, you must be confident that the person or entity tasked with carrying out these decisions will act in the desired manner. Many individuals do not fully understand the fiduciary duty that is carried with being a trustee nor do they wish to dedicate the considerable personal time required to properly manage the trust affairs. Inadequate knowledge or failure to attend to trust matters could result in harm to your beneficiaries, expensive lawsuits and, ultimately, a failure to achieve your intended results.