fire a trustee

Is it time to fire a Trustee?

Do you need to fire a trustee? Trustees control everything. If you are the beneficiary of a trust it is important for you to have easy access to your funds. Unfortunately, some trustees make it difficult for beneficiaries to access their funds.

(more…)

Easy trustee distributions

The right trust document, paired with an easygoing beneficiary, creates easy trustee distributions. A trustee has two main responsibilities when administering a trust. The first is investment management and the second is distributions.

(more…)

Financial Advisor risk with Trusts

Anytime someone takes on a fiduciary duty there is risk involved. Financial advisors’ risk will very. Trust assets offer an opportunity for advisors to further assist their clients. Often, advisors will be asked to manage trust assets of a client or assist in the process of estate planning. The two main types of trusts are Delegated and Directed. It is important for advisors to understand the risks they face with each type. This article will highlight the financial advisor risk faced when a client needs trust management.

(more…)
Directed vs Delegated

Delegated vs Directed trusts – Changing a trustee

Delegated and Directed trust are the most common types of trusts. When deciding to make changes to a trust, for instance changing a trustee, depending on the type of trust this can sometimes be difficult. Understand that not all trust law is created equal. Depending on what state you reside in, changing a trust can be an easy process or a difficult one. In this article we will discuss the differences between delegated and directed trust when needing to change a trustee.

(more…)

Texas vs. South Dakota: Who has better trust law?

Creating a trust is an important step in protecting assets and providing for future beneficiaries. A states trust law is just as important. Living in Texas offers an array of benefits and tax advantages. However, when it comes to trust law, Texas falls short in a few categories. (more…)

trustee

Want to be a trustee?

Over the next decade, trillions of dollars will be passed to future generations. Trusts have become a common strategy for estate planning. Naming the right trustee is crucially important. This should be a business decision, not an emotional one. The trustee has an array of responsibility. Understanding your responsibility as trustee or the responsibility you designate is crucially important.

(more…)
Delegated or Directed Trust

Definitive Guide on a Delegated or Directed Trust

Delegated or Directed Trust – Everyone has confusion on the pros and cons of each.  Directed trusts are newish (e.g. last 30 years).  Delegated trusts have been around since the 1300’s.  From a trust administration perspective, the biggest difference between the two rests on the trustee level of risk. 

Delegated or Directed Trust – A Reasoning for Two options

Any trustee, if taking a fee and acting as a fiduciary, reviews their duties and obligations for two key issues: their risk and their time. Trust documents outline a trustee risks very well.  Around 30 years ago, several states such as Alaska, Delaware, Nevada, and South Dakota began adding more robust control and choice options to grantors.  These extra controls and choices can reduce the risk to a trustee.  A delegated or directed trust provides options which a grantor needs to consider around the philosophy of their wealth and family. 

(more…)
Independent Trust Company

What is an Independent Trust Company?

The Independent Trust Company model is evolving. A trust company manages, invests, and administers your trust assets. The services they’re offering and the fees they’re charging are changing to meet demand. Trust company’s are being forced to explore new avenues to innovate. These new factors are due to the 700 years of the stagnant types of corporate trustees. Clients are now able to have more control over who is managing their trust assets.

Continue reading

Trustee Services Explained

Trustee services are important to making sure your trust is administered correctly. It can be difficult to give up the control of your trust money to an outside company.  The extra trustee fees gives people doubt. Often, individuals will hire friends or family members to serve as trustee for their trust. Sometimes this is a great idea, but sometimes it is not. (more…)

Bank trust company – what is that?

Almost every city has a bank trust company. A bank trust company is a corporation that acts as an agent, fiduciary or trustee. It is a trust company within a bank. Examples of a bank trust company are:  CoAmerica, JP Morgan Trust Company, SunTrust and Frost Trust Company. The term “bank” usually refers to those institutions dealing strictly with deposits, and loans. A trust company is a corporate trustee that can be tied or not tied to a bank and just offers trustee services. (more…)

Recent Post
fire a trustee

Is it time to fire a Trustee?

Do you need to fire a trustee? Trustees control everything. If you are the beneficiary of a trust it is …
Read More

Easy trustee distributions

The right trust document, paired with an easygoing beneficiary, creates easy trustee distributions. A trustee has two main responsibilities when …
Read More

Financial Advisor risk with Trusts

Anytime someone takes on a fiduciary duty there is risk involved. Financial advisors’ risk will very. Trust assets offer an …
Read More

Loading...

Like What You are Reading? Sign Up Below

Pin It on Pinterest