Irrevocable Trusts Part 4: What’s The Benefit of Retaining Independent Trust Services?

Trusts, Videos

For people who are interested in appointing an independent trust company where a bank trust department is the trustee, there is certainly a cost to have that independent trustee serve. However, in my experience, the cost is oftentimes worth it.

Rather than have a family member who is not familiar with how to administer that particular trust, there can be a significant downside in terms of losing benefits, so the cost to an independent trust company may be outweighed by the benefit of having their expertise come into play.

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