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Prospective clients and their advisors often ask why a Corporate Trustee should be named versus an individual or family member. While each situation is unique, the following benefits of naming a Corporate Trustee can apply in almost any circumstance:
Corporate Trustees have professional knowledge and expertise in the administrative complexities of trust management
Corporate Trustees employ professionals who have the time, expertise and resources to achieve better results than an individual trustee
Corporate Trustees provide accurate reporting with periodic statements and customized reports
Corporate Trustees are regulated and monitored by government agencies and are held to a much higher standard that individual trustees
Corporate Trustees have a perpetual lifespan, while individual trustees must name successors in the event of death, incapacitation or incompetence
Corporate Trustees are objective and can reduce strain on a family.
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