We leverage our experience and expertise as corporate trustees to assist clients with their fiduciary duties.
Fiduciary Responsibilities & Duties
We currently serve as trustee or co-trustee for approximately 20% of the total assets we oversee and are a named successor trustee for many clients. Fiduciary responsibility involves the highest standard of care and duty of loyalty to act prudently and in the best interest of beneficiaries.
Understand the Rules
- Invest trust assets appropriately and according to the terms of the trust document and relevant state law
- Educate trustees/co-trustee on roles and responsibilities
Follow a Process
- Properly account for principal and income
- Coordinate with investment managers, tax accountants and attorneys
- Provide mandatory and discretionary distributions to beneficiaries
- Set an investment policy
- Perform recordkeeping and documentation
- Assist with tax issues
- Appropriately inform beneficiaries according to statutory requirements