Understanding Corporate Trustees
7 Reasons To Have A Professional Help You Build, Manage and Protect Your Wealth
1. What is a corporate trustee?
With people living longer and health care costs continuing to rise, our savings must grow larger and last longer. With hundreds of investment options to choose from, deciding where to put your money can be very confusing. And if you make a wrong decision, it can be very costly.
One option you shouldn't overlook is the bedrock of asset management and personal service: the corporate trustee.
A corporate trustee is a bank trust department or trust company. Its employees can help you build, manage and protect your wealth when you put your assets in a trust.
A trust is simply a legal document that lets you reduce unnecessary legal fees, save taxes and keep control over your assets while you are living, if you become physically or mentally incapacitated, and after you die.
When you set up a trust, you need to name someone (a trustee) to manage the assets your trust controls. While you can choose just about any adult, there are very good reasons why you should consider a corporate trustee.