Trustee / Successor Trustee Services
A team of professionals acting solely on your behalf and in your best interest.
Modern wealth is created in such a variety of ways that many people lose track of where they stand and where they’re going. They either underestimate their resources or fail to make full use of them. Opportunities remain unexplored, and risks go unrecognized.
The person creating a trust is called the grantor, donor or settlor. When a trust is established, an individual or corporate entity is designated to oversee or manage the assets in the trust. This individual or entity is called a trustee.
A trustee can be a professional with financial knowledge, a relative or loyal friend, or a corporation. There are pluses and minuses to each type of trustee. An individual trustee may provide a more personal touch, but may die, move away, or become so involved in the trust itself that they are no longer able to remain objective in their oversight. That is why a corporate trustee may be a better choice for you by providing experience, investment skills, permanence and impartiality. More than one trustee can be named by the grantor if he or she wishes.
In selecting Superior National Bank as your Trustee or Successor Trustee, you are choosing an unwavering team of professionals acting solely on your behalf and in your best interests.
Whether it makes sense to establish a trust depends on your individual circumstances.
Some common reasons for setting up a trust include:
- to provide for minor children or family members who lack financial experience or who are unable to manage their assets;
- to provide for management of your assets should you become unable to oversee them yourself;
- to avoid probate and transfer your assets immediately to your beneficiaries upon death;
- to reduce estate taxes or provide liquid assets to help pay for them.
Keep in mind that you may not need to establish a trust to accomplish these and other financial goals. A well-written Will may distribute your assets appropriately. Let Superior National assist you in deciding if a trust is right for you.
