Of all the decisions to be made when creating a trust, the first one – selecting a trustee –
Could be the most important. Because the trustee has such a broad range of duties and responsibilities in the administration of a trust, the confidence in your plan is at stake – as well as the assets you place in the trust.
It is common for family members to be named as trustee because of their familiarity with the situation, trust and low cost. These are legitimate and sensible reasons. Family members, however, often do not make good trustees because they simply lack the professional expertise required to effectively administer a trust. Inexperienced trustees are often overwhelmed by their required duties and are prone to make mistakes that can have major financial consequences.
In many cases the most suitable choice is an independent corporate trustee, such as Raymond James Trust Company. The skilled staff at Raymond James Trust consists of attorneys, CPAs and financial professionals that deal exclusively with trust issues.
As your Financial Advisor, I suggest you consider utilizing Raymond James Trust as your trustee. They offer exceptional, professional trust services for a competitive fee and are positioned to work with you and me, as your Financial Advisor.