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Posted on June 4, 2018

June Monthly Newsletter: Top 5 Reasons Your Estate Plan Needs a Corporate Trustee

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As you plan for your own and your family’s financial future, you may be considering the creation of a trust. Many estate plans utilize what is called a revocable living trust. During your life, you generally serve as Trustee of your revocable living trust and can either retitle your assets in the name of the trust during your life or you can use a “pour-over will” to direct your Personal Representative or Executor to transfer any individually owned assets at your passing to your trust. After you pass, your trust becomes a separate entity that owns property managed by a trustee, who then administers the trust per your instructions for the benefit of the designated individuals or charities.

If you decide a trust is needed either during your lifetime or in your will, you will have to choose a trustee to administer it. You may be thinking your estate plan is not complex, so a family member or friend should be able to handle your affairs after you pass. Unfortunately, family members may not be able to devote the necessary attention or time to handle this undertaking. Even smart friends or business associates are unlikely to have the expertise required to serve as a capable trustee. Mistakes made in the administration of the trust may result in needless expense and cost you, your estate, and/or your beneficiary(ies) valuable assets.

Our trust representative office, Carson Group Partners Private Trust, provides corporate trust administration solutions for individuals whose financial, family or business needs require the services of a professional fiduciary. Working under a national charter, Carson Group Partners Private Trust provides trust administration services in all 50 states.

Top 5 Reasons to Consider a Corporate Trustee

  1. Extensive Investment Management and Trust Administration Experience

Our directed trust model bifurcates the investment management and trust administrative duties, providing the continuity of investment philosophy and selection to your beneficiaries.

  1. Knowledge of Applicable State Laws and Procedures

Working under a national charter, Carson Group Partners Private Trust provides trust administration services in all 50 states!

  1. Long-Term Stability

Unlike friends and family members, Carson Group Partners Private Trust, won’t move away, fall ill, or lose interest in overseeing your trust.

  1. Neutral and Impartial Third-Party Administrator

During the term of the trust, your trustee will be called upon to make careful decisions that are in the best interests of your beneficiaries. Carson Group Partners Private Trust will make decisions objectively and in accordance with the laws of your particular state.

  1. Ability to Serve as Co-Trustee with an Individual Family Member or Friend

If you feel more comfortable having someone close to you involved in managing your trust’s assets, consider naming a friend or family member as co-trustee of your trust. With this approach, you’ll have the perspective and family connection of an individual trustee as well as our professional experience and skills.

To learn more about how Carson Group Partners Private Trust works with your Advisor to help protect your estate planning legacy, talk to your Advisor today!

 

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