A corporate trustee is considered to be a trust company or a bank trust department. A trust is a legal document that allows you to save taxes, reduce unnecessary legal fees and keep control over your assets even if you become physically or mentally incapacitated.
You may choose as a corporate trustee any adult. However, it is important to take into consideration that you may take certain advantages if you decide to use a professional trustee, such as:
– Professional service and years of experience
– Potential of investment returns
– Objectivity of instructions.
If you want to control your trustee and evaluate the investment performance in your absence, you can become co-trustee. It may allow you to become more familiar with the trustee’s investment experience. Moreover, under California law, you have the right to change your trustee whenever you want if you are not satisfied, i.e. even in an irrevocable trust the trustee may be held responsible if your instructions are not followed.
If you are thinking about using the services of a corporate trustee, The Margarian Law Firm lawyers are dedicated to providing our clients with consultations to make informed decisions about your assets. At The Margarian Law Firm, the skilled and experienced lawyers will work with you in order to ensure and implement cost-effective estate planning for you.
Save and multiple your assets with us!
You may file your request online, by telephone or by mail. 818-553-1000