Choosing A Trustee

IN ORDER TO HAVE A TRUST, YOU MUST CHOOSE A PARTY YOU ENTRUST TO HANDLE THE INVESTMENT AND DISTRIBUTIONS OF THE ASSETS.

The foundation of a trust is the person or entity chosen to be the trustee.  The choice of trustee is the paramount decision necessary to give you the confidence a trust should give, and necessitates you choosing for trustee a party you are confident will handle the investment and distributions of the trust the way you want them to be handled.

One of the most important factors in choosing a trustee is simply how familiar the trustee is with the day to day facts and situations that may arise under your trust.  Some of these considerations are:

• Familiarity with trust administration and the mechanics of holding and distributing assets that are not the trustees

• Familiarity with the laws of trusts and related issues, such as taxation, real estate, debt and interest, and potential lawsuits for misadministration

• Familiarity with investments the trust will be handling, including how to balance the investment requirements of beneficiaries currently receiving income with the requirements of beneficiaries who will only get the future growth

• Familiarity with the actual beneficiaries that will receive distributions from the trust, their needs and circumstances as compared to the standard of living of their community

• Familiarity with you and your wishes with respect to the trust that you created

At Providence First Trust Company, our goal is to learn about you and your estate and family, and be prepared to understand any situation or facts that may be relevant to your trust estate.  We are legally trained, experienced professionals that specialize solely in personal trusts, and are qualified and familiar with the important considerations above.  This means we have developed an expertise in personal trusts like yours that is unique in the financial industry.  We invite you to learn more about us and our unique focus on trusts and estates like yours.

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