Understanding the Role and Benefits of an Independent Trustee
When it comes to estate planning, the role of an independent trustee is often overlooked yet it’s one of the most crucial decisions you can make. An independent trustee, as the name suggests, is a third-party individual or entity responsible for managing and overseeing a trust that you set up. Unlike a trustee who might be a family member or close friend, an independent trustee is a neutral party, usually with professional experience and expertise in law, finance, or trust administration.
Why Opt for an Independent Trustee?
Selecting an Independent Trustee
When selecting an independent trustee, consider the following:
Responsibilities of an Independent Trustee
An independent trustee’s responsibilities include:
In conclusion, choosing an independent trustee is a critical component of successful estate planning. Their expertise, impartiality, and professional management can greatly benefit the long-term success of your trust, ensuring your assets are well-managed and your beneficiaries are well-cared for according to your wishes.
Independent Trust Company is licensed and headquartered in South Dakota helping families throughout the United States access and benefit from the numerous advantages of South Dakota trusts.