Can My Attorney or CPA Just Be the Trustee? Why a Professional Trustee or Trust Company Is Usually the Better Choice
At Northeast Private Trustees, we understand why so many people want to name their attorney or CPA as trustee. These are trusted professionals who handle complex matters, often dealing in tax and legal issues, and may have guided families for…
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,…
Why Should My Kids Inherit a Trust and Not Money Directly? Part One: Wealth in Trust Grows
When beneficiaries inherit cash outright, it gets spent, but when they inherit through a trust, it grows. Most parents don’t realize this, but how you leave an inheritance matters just as much as the inheritance itself. Cash Behaves Like Cash…
Why Is an Independent, Professional Trustee a Good Idea, and Why Should You Avoid Volunteer or Family Trustees?
A well‑chosen trustee brings competence, steadiness, and harmony to a family’s long‑term plan. If you read “What Does a Trustee of a Trust Do, Anyway?,” then you know the role of trustee carries significant responsibilities. Even with the best intentions,…
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…
Choose a Trustee with These Three Characteristics
If it’s time to choose a trustee, carefully consider these three characteristics: their reputation, empathy, and procedural approach. Transitioning from a long-standing relationship with an advisor, teacher, coach, doctor, lawyer, CPA, trustee, or financial advisor - whether due to retirement...
Choosing an Administrative Trustee: Relieve the Emotional Weight of Estate Settlement with NPT
Settling the affairs of a deceased loved one is never an easy task, but with the continued developments of the digital landscape, the process has become even more overwhelming. When our sister company Borchers Cusano Trust Law first promoted their…
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,…
How are Directed Trusts Used in Estate Planning?
Directed trusts have emerged since 1986 as an important and yet arguably underutilized estate planning and trust administration tool, offering unique advantages in terms of trustee liability, cost efficiency, and potential tax savings. By implementing directed trusts, savvy families and...