A Professional Administrative Trustee: A Prudent and Wise Choice
If you created a trust in order to benefit your heirs or if you are thinking about creating a trust before you pass, remember that the trust is only one part of the plan. It’s a prudent and wise idea to select and retain a qualified administrative trustee to ensure your directives are executed in the manner you designate in the trust documents.
By specifically naming the administrative trustee to carry out your directives, you are making sure that neither your heirs nor their legal counsel will be able to dispute the hiring of the administrative trustee you selected. By retaining the administrative trustee, you strengthen the
directive to make sure your wishes are carried out the way you want.
Having an experienced administrative trustee execute the trust documents will make things much easier on your heirs. The administrative trustee can be called upon to handle distribution requests, asset management, and other tasks specified by you.
A Professional Administrative Trustee: An Experienced Expert on Your Side
The right administrative trustee will have the knowledge and expertise to handle and manage the assets that make up your trust. They will be tasked with much more than just keeping record, submitting trust reports, and overseeing tax compliance.
If the assets of the trust require specific expertise, the administrative trustee must be able to either handle them in-house with their office staff, or they must be able to find the right professional who know how to assist the administrative trustee.
The administrative trustee must also be able to handle a variety of requests from the beneficiaries of your trust. They must be able to determine if the requests are valid and make a decision about that request. You need to feel confident that your administrative trustee can make that determination in your absence.
The administrative trustee must not only be able to take specific directives as stated in the trust instrument, they must also be able to work within any state laws governing the trust.
In addition, the administrative trustee you select, must be able to manage the familial social dynamic and be able to identify and diffuse any in-fighting amongst the heirs.
The Trustee Group: A Professional Team
The Trustee Group has a full complement of office personal, including accountants and attorneys, that enable our professional administrative trustees to perform their jobs to the best of their abilities. We also have excellent relationships with real estate agents and brokers, general contractors, investment counselors, and other industry professionals.
For more information about the professional administrative trustees at The Trustee Group or to engage The Trustee Group, use our Trustee Contact Form or call Mr. Singer or Mr. Yahraus at: 310.552.5315.