Should I Use a Corporate Trustee?

A lot of people procrastinate when it comes to estate planning. The notion is that you can draw up some documents when you get old and gray, so there is no hurry. In truth, there is a lot more to the equation if you want to be appropriately prepared as a mature, reasonably successful individual. This is a pretty vast subject, and there are many facets to it. However, in this blog post, we will limit ourselves to the subject of estate administration and the value of a corporate trustee. The Business of the Estate After you pass away, someone must handle the business of the estate. Yes, you recorded your wishes in writing, but things must take place to make these wishes coalesce into reality. If you were to use a last will to transfer your property, the estate administrator would be the executrix or executor. When a trust is used, the estate administrator is the trustee. A will would be admitted to probate, and the Surrogate s Court would supervise the administration of the estate. This


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s