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Home > Planned Giving > Should You Create a Joint Trust?

Should You Create a Joint Trust?

Quick Tip

The most important qualities of a trustee are integrity, judgment and compatibility with your chosen beneficiaries.

A trustee oversees the assets you place in a trust and administers the trust for the beneficiaries. While you can serve as your own trustee, you may prefer to name a family member or close friend as your trustee. You can also choose a professional trustee, such as a bank or trust company. Many people name a professional as a co-trustee along with a family member or close friend. You will want to decide which traits are important to you.

Which Trustee Is Right for You?

Corporate TrusteePersonal Trustee
Expert financial management
Personal attention
Experience
Lower costs
Continuity in management
Quickness in taking action
Flexibility with beneficiaries
Neutrality

 

Contact Us

Please call Julie Snyder at 716-862-1992, or e-mail us at jsnyder@chsbuffalo.org, for more information.

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The information in this Web site is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income tax include federal taxes only. Individual state taxes and/or state law may impact your results.