From time-to-time I’m hired to handle a Trust administration for a client. There are times when a settlor may choose a corporate trustee as their first choice as a trustee or successor trustee. When choosing a corporate trustee, a settlor should ensure that there will be a sizable estate that justifies the expense of a corporate trustee and the trust is funded with the minimum trust estate asset value required for the corporate trustee to accept trusteeship.
In a recent case in Arkansas, the corporate trustee declined to act as trustee but performed acts exercising their power as trustee when the Bank reimbursed the beneficiary for expenses and liquidated some of the securities at his direction.
If you have a trust or you are designated as successor trustee of a trust, you may contact Attorney Upchurch at Upchurch Law at (386) 272-7445 or use the contact page.
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