Picking a Trustee
Choosing the right trustee can be a daunting task. We understand the intricacies involved in this process. Family dynamics add layers of complexity to trustee selection. While choosing a family member may seem like a natural choice, it can sometimes lead to strained relationships and conflicts of interest. On the other hand, seeking a trustee from your friendship circle may pose similar challenges. Handling someone else's finances is a significant responsibility.
At Rabadeau Wealth Group, we emphasize the importance of finding a trustee who is not only capable but also willing to take on the role. For simple estates, a family member or close friend may suffice. However, for more complex estates with ongoing duties such as quarterly distributions, tax filings, and meeting beneficiaries– a corporate trustee may be a better option.
Corporate trustees offer unbiased expertise and legal protection against potential challenges. They ensure continuity and professionalism in managing your legacy, especially in cases involving special needs trusts or intricate income distribution. Plus, entrusting your estate to a corporate trustee means you won't have to worry about uncomfortable family gatherings where financial matters may arise.
We offer corporate trustee services to our clients, providing reassurance their legacy is in capable hands. We understand that there are pros and cons for both family members and corporate trustees. We are here to discuss them all based on your unique situation.
Legacy planning is a personal and complex endeavor. But with the guidance of experienced financial advisors like us, you can navigate it with confidence. Whether you're considering family members or corporate trustees, we're here to help you make the right choice for your legacy. Reach out to us for more insights and recommendations on this critical aspect of financial planning.
Our family is here for yours.
Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.
Raymond James Trust does not offer legal or tax advice. You should discuss any legal or tax matters with the appropriate professional. Raymond James Trust, N.A., is affiliated with Raymond James & Associates, Inc., member New York Stock Exchange/SIPC and Raymond James Financial Services, Inc., member FINRA/SIPC.
