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Experience & Compliance
A corporate trustee has experience working with applicable legal requirements.
- Peace of Mind
- Professional Management
- Manage Trust Distributions
- Formal Recordkeeping
- Trust Administration
CORPORATE TRUSTEE SERVICES
Corporate Trustee Services for
Effective Trust Management
One of the most important decisions you can make when finalizing your estate plan is to name your trustee. There are some instances where you can serve as the trustee while you are alive and others where you need to appoint another entity or person as the trustee immediately. Whether you are choosing a primary or successor trustee, making the decision on who to appoint is a very important decision. Depending on the trust, the trustee may be required to perform complex tasks. Whether you choose a trusted family member, friend, or trust company, the trustee is responsible for significant record keeping and must consider the financial wellbeing of both current and future beneficiaries. The trustee may also be responsible for making investment decisions. While family members and friends may be trustworthy, dealing with the record keeping and distribution of trust assets can be difficult and emotional. At times, this may obscure objectivity when making decisions when it comes to managing a trust for family members.
PROFESSIONAL TRUST ADMINISTRATION
Why a Corporate Trustee Company Is the Right Choice for
Trust Administration?
Trust Administration demands a high level of fiduciary responsibility and confidentiality. Regulated by state and federal agencies, regulated professional trust companies are held to a higher standard. Such trust companies have the professional knowledge and expertise in handling the complexities of trust administration. For these reasons, ePIC Services Company allows you to choose a successor trustee from a pre-selected number of professional trust companies, to provide peace of mind by ensuring that your trust is administered as you intended, to achieve your wishes and goals, without the conflicts of interest and pressures that family members can endure.
ePIC Services is laser focused on elevating the client experience by upholding the skills, experience, and resources necessary to assist with your estate planning and trust administration.
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TRUSTEE BENEFITS
Benefits of a
Corporate Trustee
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Business-Succession Management
You’re dedicated to your business. Ensure it stays in good hands after you’re gone.
03
Formal Record Keeping
A Corporate Trustee will be able to keep proper records of trust assets and transactions, such as distributions to beneficiaries, payment of expenses, disbursement of assets, payment of taxes and proper principal and income accounting and provide statements to beneficiaries.
04
Reliability & Availability
Avoid costly administrative interruptions by choosing our corporate trustee services.
05
Custodial Services
Qualified accounts can expect that we’ll administer a “see-through” conduit trust.
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Estate Settlement
Be confident that your trust procedures are administered by a state-regulated entity.
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Objectivity & Impartiality
A Corporate Trustee will be able to follow the instructions of the trust with objectivity and impartiality.
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Advisor-Directed Investments
With your assets safe within our custody, we’ll ensure they’re invested properly.
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Consistent Longevity
A Corporate Trustee will ensure that your plans are followed for generations to come.
Frequently Asked Questions
Corporate Trustee Questions, Answered
What a corporate trustee does, what it costs, and when it makes sense for your family or your clients.
What is a corporate trustee?
A corporate trustee is a bank or trust company appointed to manage a trust, instead of a family member or friend. It owes fiduciary duties to act in the beneficiaries' best interests and to follow the trust's instructions.
What does a corporate trustee do?
It handles the day-to-day work of running a trust. That includes holding and safeguarding assets, making distributions to beneficiaries, paying expenses and taxes, keeping records, sending statements and settling the estate when the time comes.
How much does a corporate trustee cost?
Corporate trustees usually charge an annual fee of about 0.5% to 2% of trust assets, often with an annual minimum. Larger trusts typically pay a lower percentage. Costs for tax returns or unusual assets such as real estate or a business can be extra.
Is a corporate trustee a good idea?
It is often a good fit when a trust will last many years, holds significant or complex assets, or serves beneficiaries who may disagree. A corporate trustee brings continuity, professional recordkeeping and neutrality that an individual may not be able to provide over decades.
What are the disadvantages of a corporate trustee?
The main drawbacks are cost and a less personal relationship. Annual fees add up over time, minimums can make small trusts impractical, and a trust company won't know the family as well as a relative does. A family member can still be named as co-trustee or advisor to keep a personal voice.
Corporate trustee or a family member: which is better?
A family member costs less and knows the family, while a corporate trustee is impartial, always available and experienced with the rules. Many families combine both, naming a relative as co-trustee or trust protector alongside a corporate trustee.
Who regulates corporate trustees?
Trust companies are licensed and supervised by state or federal banking regulators. In Nevada, trust companies are licensed by the Division of Financial Institutions, and the Commissioner of Financial Institutions can suspend or revoke a license.
Can my financial advisor still manage the investments?
Yes, in many cases. With a directed trust, the trust can name your financial advisor to direct the investments while the corporate trustee handles custody, administration and distributions. This keeps the advisor relationship in place.
Can a corporate trustee be replaced?
Usually, yes, if the trust says so. Many trusts let the beneficiaries or a trust protector remove and replace the trustee, and Nevada law allows a trust protector to hold that power.
When does a trust need a corporate trustee?
A corporate trustee is worth considering when there is no suitable family member, when beneficiaries are minors or need long-term support, or when the trust must last for generations. It is also common for Nevada asset protection trusts, which need a Nevada trustee such as a trust company.
ePIC Services Company, Inc. is not a law firm and does not provide legal or tax advice. Talk with a qualified attorney or tax professional about your situation.