1. You’ll gain the advantage of years of experience.
Because they manage trusts on a daily basis, they are familiar with all kinds of trusts, tax and estate planning strategies, and the legal responsibilities of a trustee.
They can manage the assets in your trust now and/or after you die as your trust directs — buying and selling assets, paying bills, filing tax returns, maintaining accurate records, and distributing income and assets. Most have experience with all kinds of assets, including stocks and bonds, real estate, farms, closely held businesses, mineral properties, international investments, and collectibles.
2. You’ll enjoy the potential of even greater investment returns.
Corporate trustees give their full attention to managing trust assets — that’s their job. And because their staff collectively has more experience and resources than an individual, they often achieve better results.
After discussing your financial goals, risk tolerance and long-term objectives with you, they will recommend the best investment strategy for you. Then, depending on how involved you want them to be, they can provide ongoing advice, or even make decisions for you, to make sure your investments stay on track to reach your goals.
3. You’ll protect your wealth because corporate trustees are regulated by both state and federal agencies.
Also, most courts consider them “experts” and expect them to meet higher standards than a nonprofessional.
4. You’ll receive reliable, professional service.
A corporate trustee won’t become ill or die, divorce, go on vacation, move away or become distracted by personal concerns or emotions as an individual might.
5. You’ll value their objectivity.
They will follow your trust instructions objectively and faithfully, something family members are often unable to do.
6. You’ll tap their rich sources of advice and referrals.
They routinely provide advice on investment, tax, retirement and estate planning issues, and can refer you to attorneys and other qualified professionals as needed.
7. You’ll enjoy peace of mind.
Knowing you have selected someone with experience and integrity to manage your financial affairs now and/or when you are no longer able to do so yourself can be very reassuring.