Choosing the Right Trustee
Creating and Preserving Wealth for Generations™
Protecting your wealth requires careful selection of the right Trustee, Executor or Conservator. Think of this process as designating a Steward of your wealth and your wishes. This decision is often the most difficult part of the estate planning process. The person you select not only administers your will or trust but also ensures compliance with taxes and laws, makes investments, distributes assets and more, all in compliance with your instructions.
A wrong choice can result in loss, conflict and a failure of your intent to be carried out. In choosing a Trustee (and Executor or Conservator) we recommend that you consider the following factors:
- Availability – Will your Trustee be available and easily accessible during the entire term of the trust?
- Investment Performance – How does the Trustee's track record compare to relevant benchmarks and what are the resources available for investing your money?
- Working With Your Advisors – Will the Trustee work with other trusted advisors, such as your Attorney or CPA, to protect your interests?
- Trust Administration Expertise – Does the Trustee understand the accounting procedures, rules, compliance requirements, taxes and planning opportunities that may apply to your trust?
- Sensitivity to Beneficiaries – Will your Trustee be flexible enough to accommodate the special needs of your family?
- Impartiality – Does your Trustee have the ability to administer your trust impartially without bending to beneficiary demands and pressures?
- Business Sophistication – If you own a business, does your Trustee have experience operating and disposing of businesses?
- Recordkeeping and Reporting – How will your Trustee prepare accountings and report information to you or your beneficiaries?
The following questionnaire is designed to help us give you the best service possible. Please print it out, fill it in, and bring it to your meeting with your trust or investment manager. She or he will review it with you and answer any additional questions you might have.
NOT A DEPOSIT | NOT FDIC INSURED | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT GUARANTEED BY THE BANK | MAY GO DOWN IN VALUE
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