When To Consider A Corporate Trustee - Chevy Chase Trust

When To Consider A Corporate Trustee

Jeannette Roegge, Chief Fiduciary Officer, discusses how to determine whether a corporate trustee or executor might be beneficial to manage and protect assets.

Roegge states, “Many people choose a close friend or a family member for number of reasons: cost, simplicity, familiarity or even just a sense of obligation. Often, such arrangements go off without a hitch. However, when things do go wrong, they tend to go very wrong. Almost all advisors know stories from their professional or personal experiences of family trustee or executor appointments that went horribly awry. Depending on your client’s circumstances, the complexity of his testamentary wishes and the size of his estate, among countless other individual variables, these cautionary tales may make the appointment of a corporate trustee an attractive option.”

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