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Advantages of Using a Corporate Trustee

A corporate fiduciary provides professional full-time estate and trust administration. It can act dispassionately in the best interests of the trust or estate, and spot potential problems that a nonprofessional might overlook. If disagreements arise among family members, for example, the corporate fiduciary can serve as neutral intermediary. A corporate fiduciary can also arrange for care of a disabled family member or provide advice and counseling when it is critical that families make wise decisions.

Here are some of the most important estate and trust administration services provided:
• Identify the clients assets
− Inventory all assets
− Collect dividends and interest
− Pay debts and expenses
• Valuation of Assets
− Value assets for estate tax purposes, insurance, sale and disposition
− Value assets for performance measurement and capital gain reporting
• Liquidate assets to settle debts and expenses
• Payment of estate, inheritance and income taxes
− Diligently search for ways to reduce tax liability
− Timeliness of all payments to avoid penalties and punitive interest assessments
− Review of estate tax return
− Supervision of audit to substantiate values and deductions claimed
− Preparation and filing of all fiduciary income tax returns
• Investment of trust/estate portfolio
− Investment expertise an important advantage
− Assets managed according to terms of instrument (i.e. restrictions on particular
holdings)
− Consider potential tax impact of investments in trust/estate and its beneficiaries
− Investment decisions are reviewed as the economic outlook and family’s circumstances
change
− Custody of assets
• Disposition of assets
• Carry out the wishes of the grantor/testator to the beneficiaries
• Provide insurance on all physical assets
• Continuous tax planning
• Periodic accounting of the actions as trustee or executor

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