What if a Corporate Trustee Isn’t the Right Choice for My Trust?
In recent years, estate planning attorneys have noticed that fewer estate planning clients are naming corporate fiduciaries as trustees. They may have a greater level of trust in a family member or friend than in a corporation, but often the pricing of corporate fiduciary services leaves no alternative.
Bulkley Richardson’s Trustee Support Services program makes trust administration by individual trustees feasible at a reasonable cost. Trustee Support Services is a unique practice specializing in trust services and legal advice for individual trustees. The mission of the program is to combine depth of experience in trust law with high-efficiency trust operations to provide cost-effective services to trustees.
All Trustee Support Services clients are offered a basic suite of trust services, including trust analysis, accounting services, probate advice, help to find the right investment guidance, and assistance in making distributions. This suite of trust services generally is available for a flat fee. Where appropriate, the program also offers hourly problem-solving, corrective, and other supplementary services to bring trust administration into legal compliance and administrative efficiency.
In the process of his estate planning, one individual recently commented that “the expertise, ongoing assistance, and monitoring that are provided by [Bulkley Richardson’s] Trustee Support Services make it possible to consider family members for … trustee roles”.
If you are a trustee, or if you are considering naming an individual to serve as your trustee, please call a member of our Trusts and Estates Department to learn more about Trustee Support Services.