TRUSTEE: Whether private or court appointed, the trustee is bound by the terms of the trust. The trustee must administer the trust and safeguard the assets by making prudent decisions regarding investments, real estate and all other assets, while maintaining an open line of communication and reporting with the beneficiaries.

Why appoint a licensed professional fiduciary as trustee?

  1. Independent and Objective: Unlike a family member or even a trusted friend, a licensed professional fiduciary has no financial or personal interests in the estate assets and is free from conflicts of interest.
  2. Fiduciary Duty: The independent trustee has a fiduciary duty to act in the best interests of the trust and its beneficiaries. They must exercise care, loyalty, and prudence in all decisions and actions, putting the beneficiaries’ needs above their own.
  3. Expertise and Professionalism: Independent trustees often possess specialized knowledge and experience in areas such as finance, law, tax, and estate planning. Their expertise helps navigate complex legal and financial matters, ensuring effective management of trust assets and adherence to applicable laws.
  4. Education: Licensed Professional fiduciaries serving as independent trustees are required to take 15 hours of ongoing education each year, with strong emphasis on ethics and trust management.