Who can you trust with your trust?

May 8, 2017

While many people are familiar with the concept of a trust, many don’t know that its origins go back to the Roman Empire when soldiers would transfer their assets to a trusted friend (later called a trustee) who would ensure the soldier’s family was cared for. While much has changed since then, the basic objective remains the same: ensuring a smooth transfer of wealth to family or other beneficiaries. Another fundamental consideration of trusts also remains the same: Who can you trust with your trust? This is a question Julie Neitzel explores in her recent column for South Florida Business and Wealth.

In her column, Neitzel stresses that selection of trustees will “significantly impact trust management and should be carefully considered and regularly reviewed by the trust creator.” She also differentiates between individual and corporate trustees and offers some tips when selecting an individual.

“Family trusts are dynamic structures and will benefit from ongoing review and assessment to meet the family’s goals in the wealth transfer process,” she concludes.

The full South Florida Business and Wealth article is available here.