Nine Advantages: Corporate Trustees and Creating an Anaheim Estate Plan

When creating your Anaheim trust, you have several options for choosing successor trustees after you pass away. You should consider how many trustees to appoint, as well as the significant responsibility that you are asking your trustees to fulfill. One option when choosing trustees is to appoint a corporate trustee. A corporate trustee, typically a bank or other financial institution, is in the business of administering trusts.

What are the advantages of using a corporate trustee for your trust? The following are nine examples:

  1. Corporate trustees are well versed in the laws surrounding trust administration in California.
  2. Corporate trustees can focus great time and resources into investing the trust assets to increase the chance of profitability.
  3. Corporate trustees often will handle many aspects of trust administration, including the filing of trust tax returns.
  4. Corporate trustees may be more objective than a trustee with a personal connection to the other beneficiaries.
  5. Corporate trustees can help to protect trust assets from creditors in certain circumstances.
  6. Corporate trustees remove the burden of trust administration from your friends and loved ones.
  7. Corporate trustees can protect your loved ones from any potential liability stemming from their role as trustee of your trust.
  8. Your trust can be set up so that the corporate trustee is not appointed to serve until you pass away or become incapacitated.
  9. Corporate trustees often have significant resources available for legal, investment, and tax advice.

To learn more about what to consider when choosing your trustees, view our free guide, Understanding the Revocable Living Trust – In Language that Anyone can Understand in 8 Minutes. Contact the experienced Orange County estate planning attorneys at the Law Office of James F. Roberts & Associates, APC for more information. Call our office today at (714) 459-5481 for a consultation.

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