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Corporate vs. Individual
You are free to choose anyone as the trustee of your trust, and frequently an individual is chosen to act as trustee. That individual may be yourself during your lifetime, your spouse, a child or other relative, a friend of the family, or a professional advisor, such as your attorney or accountant.
The advantages that may exist in having an individual act as your trustee are:
The disadvantages that may exist with an individual trustee are:
The use of a corporate trustee, such as National Advisors Trust with FIM Group Private Trust acting as investment advisor, is best evaluated by considering the issues and problems that will arise after the passing of the creators of the trust, when only the beneficiaries are there to monitor the trust and its distribution. Positive characteristics of a corporate trustee in that situation are:
Roles of the Corporate Trustee:
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