What services will a corporate trustee handle if I select one as a successor trustee?

If you are considering naming a corporate trustee as the successor trustee of your trust, it is important to understand what services this trustee will provide. There are many options for a corporate trustee in the Anaheim area, ranging from banks with their own trust departments to trust companies. While the services provided by these entities are similar, some trustees will provide more all-encompassing services than others.

Services Provided by Corporate Trustees

What are some of the services provided by corporate trustees acting as successor trustee of a living trust? The following is an overview:

  1. General record keeping of trust activities and assets
  2. Preparing trust accountings
  3. Preparing and filing trust tax returns
  4. Portfolio management of trust assets
  5. Management and sale of real estate held in trust
  6. Investment risk consulting pertaining to trust assets
  7. Management of oil, gas, and mineral interests and claims
  8. Asset management services
  9. Management of trust loans, notes, and contracts

Depending on the needs of your particular trust, you may want your successor corporate trustee to perform some or all of these services. It is important to note that while the services offered will range among trust companies, so will the fees that they charge. Your attorney can help you select the corporate trustee who is right for your needs.

Our office is happy to provide guidance when it comes to choosing the right successor trustee for your estate plan. We encourage you to view our client testimonials page today to learn more about how we have helped others.

James F. Roberts
Founder and owner of the Law Office of James F. Roberts and Associates, a premiere estate planning law firm