Professional Trustee

Trustees are the key to the successful execution of your well thought out planning.

Who will manage for you if you can no longer manage on your own?

Who will carry out that the terms and conditions you set out in your trust for your beneficiaries will be adhered to, like Substance Abuse Provisions that require drug testing or Spend Thrift Provisions that require tight check book control in the face of rants or tantrums? 

One common and tragic mistake parents make is having adult children to serve as  successor trustees when mom and dad become incapacited because it forever changes the parent/child relationship.  At a time when the parents need their children around them the most, the children have to act as managers.

If the children live far away, or simply lack the time due to their own busy lives, they may try to serve anyway, which opens the door for feelings of guilt and resentment, and some adult children lack the emotional or financial maturity to act as the trustee of a large estate.  Families are healthier when children get to show up as children, not managers. 

A second common mistake is when parents make the ‘good’ child the trustee over their brothers and sisters.  Regardless of how competent and incompetent their children may be, it’s always better to name an unrelated third party as trustee so they can be the ‘bad guy’, and keep the siblings relationship in tact. 

Corporate Trustees are one answer, however they often require that your assets be moved ‘in-house’ which can destroy continuity and the team of advisors, planners and accountants you carefully put in place. 

I have over a decade of experience in planning for complex and large estates and have learned how to work with accountants, financial advisors and insurance professionals in serving our clients’ needs.  As a professional, disinterested third party, my actions are controlled solely by the instructions outlined in your trusts and not by the emotional outpourings of your children or their spouses. 

I have collaborative relationships with many allied professionals in overlapping fields such as:

Trustee Service Fees are based on a graduated fee schedule.