President and Trust Executive Tim Borchers recently joined The WAY to WOW Show’s “Trusts & Estates Weekly” section to discuss the demands of launching and operating a trustee service company while also serving as Founder and Partner at Northeast Private Trustees’ sister company, Borchers Cusano Trust Law.
In the episode, Tim likens the switch between estate planner and trustee to Indiana Jones working as both a professor and an adventurer: “[Indiana Jones] was in the classroom with his coat and tie, and then he puts on the bandana, the whip, and the hat and he’s in the field. That’s kind of what it’s like to be the trustee – we are suddenly out there having to make those flash decisions.”
Additionally, Tim shares insights on:
- How NPT came to be
- What a corporate trust company is and how it operates
- The benefits of having a corporate trustee instead of an individual trustee
- The importance of developing hands-on experience in all fields
- Eight key considerations for trustees early in an engagement
- How trustees can work with beneficiaries to maintain long-term sustainability of a trust
Watch the full episode here.
Tim, co-founder of Northeast Private Trustees, offers expertise in trustee services, trust administration, tax planning, estate planning, probate, and real estate. He has served for many years in multiple fiduciary capacities, including Trustee, Executor, Personal Representative, and Power of Attorney holder.
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