How Can You Justify the Trustee Fee?
One question we often get at Northeast Private Trustees is, “How can you justify the fee for your services?” It’s a fair question, especially for families who don’t have experience working with trustees and may not know what they do behind the…
Why Should My Kids Inherit a Trust and Not Money Directly? Part Two: Life Happens… A Trust Protects Against It
As discussed in part one of “Why Should My Kids Inherit a Trust and Not Money Directly?,” the most important reason to leave an inheritance in trust is protection. Cash is defenseless. A trust is not. At Northeast Private Trustees,…
What Does a Trustee of a Trust Do, Anyway?
Most people have heard of trustees, but few understand the true scope of what they do. A trustee is a fiduciary, meaning someone legally obligated to put the interests of others ahead of their own. This obligation is not merely…
Duty of Loyalty: A Non-negotiable Rule for Trustees
A bedrock principle for a trustee is tied to their duty of loyalty, which requires the professional to act solely in the best interests of the trust and its beneficiaries. Trustees must strictly avoid any conflicts of interest or self-dealing,…
Should I use a Domestic Asset Protection Trust or a New-HING?
Domestic Asset Protection Trusts (DAPT) have been around since Alaska established one in 1996. They can now be found in 17 states. Northeast Private Trustees can help you with a DAPT established in New Hampshire. What is a DAPT? A DAPT is an...
Should You Name Your Child as Trustee?
Parents: Should you name your child as Trustee? Children: Should you really serve as the Trustee if you are named? If you have a son or daughter with good business sense, you may have concluded that he or she would...
Power of Attorney: What Are Your Responsibilities?
Have you been named as a power of attorney? If you’re stepping into this role for the first time, there are terms and responsibilities you need to understand going forward. This is a vitally important role, and one that can’t...How to Choose a Loyal Trustee: Know Your Options
Are you preparing to choose a trustee? Knowing how to choose a trustee, and what your options are, is not as straightforward as it seems. In fact, there are a number of factors and considerations that come into play when...