Serving as a trustee requires financial responsibility, accountability, investment knowledge, objectivity, and experience, all of which can be found at The Trust Company.
As an independent fiduciary, we have one loyalty – you. We can serve as a trustee, co-trustee, successor trustee, or as agent for the trustee. As agent, this partnership allows the named trustee to continue to serve in this role while The Trust Company manages the daily maintenance, including bookkeeping, investing and reporting. With The Trust Company as agent, the named trustee can continue to focus on core business or other personal priorities and leveraging the expertise of industry professionals all while maintaining the relationship with the family. The options are many and varied, but the professionals at The Trust Company will guide you through this important journey.
Trustees are generally responsible for the following:
- Abiding by the fiduciary standard – putting client’s best interest first
- Holding, securing, managing and investing trust assets
- Distributing trust income and/or principal to the beneficiaries
- Making tax decisions concerning the trust
- Reviewing and filing income tax returns on the trust
- Providing statements of account and communicating with beneficiaries