Posts Tagged Corporate Trustee

A trustee can be one person, multiple people, or what is called a “corporate trustee,” such as a bank or trust company staffed by people who manage and grow trust assets. People name corporate trustees for a variety of reasons, including: Necessity If you have no one you can count on to administer your trust, or you don’t want to burden a loved one with the responsibilities of serving as trustee, a corporate trustee may be the way to go. Avoiding family disputes When one member of the family is named as trustee, other family members might feel slighted. This can lead to arguments and even legal disputes. A corporate trustee is unbiased and can help eliminate infighting between family members. Also, if you are unhappy with how trust assets are being managed, it is much easier to fire a corporate trustee than, say, your eldest son. Experience In the vast