Family Office Services - Comparing Types of Trustees
Comparing Types of Trustees
In Brief
- Review the pros of a professional Corporate Trustee, such as their impartiality, in-house expertise, and continuity, alongside their cons, like higher fees and less personal approach.
- Analyze the benefits of naming a Family Member as trustee, including deep family insight and lower costs, while weighing the significant risks of emotional bias, insufficient expertise, and personal legal liability.
- Explore Hybrid Options that balance personal insight with professional oversight, such as appointing a family member and a corporate trustee as co-trustees or naming a corporate trustee as a successor.
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