Estate Planning & Living Trusts
34. Benefits of corporate trustee
A corporate trustee is a bank or trust company that specializes in managing trusts. Some people select a corporate trustee to act as trustee or successor trustee for them, especially if they don't have the time, ability or desire to manage their own trusts.
Corporate trustees are experienced investment managers. They are government regulated, reliable and objective. They receive special training, and have a full network of resources available -- including reports, analysts and researchers -- to help them evaluate various markets and make decisions. As a result, they are often able to achieve better performance than an individual who usually has less experience, time and resources.
Corporate trustees do charge a fee for their services, but only when they begin to act as trustee.