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Choosing a trustee for your trust is one of the most important decisions you will make.  Charlotte State Bank & Trust provides professional trustee services and is an excellent choice to serve as trustee of your revocable or irrevocable trust or IRA.

The choice is whether to choose a corporate or an individual trustee.  There are significant responsibilities in being a trustee; and providing quality trustee services requires expertise and knowledge that individuals may not always possess.

When considering naming your trustee, consider some of the responsibilities required:

  • Take possession of and maintain control of trust assets
  • Collect amounts due and pay expenses
  • Maintain clear and accurate accounts and records
  • Administer the trust in the interest of the beneficiaries
  • Value assets for tax, insurance, disposition, and capital gains reporting purposes
  • Arrange for payment of estate, inheritance and income taxes
  • Monitor trust or estate portfolio investments
  • Administer the trust according to the provisions in the trust documents

The job of being a trustee is demanding in many ways and carries a certain amount of liability involving the violation of applicable law, non-compliance with terms of the trust or failure to discharge any trustee duties or responsibilities.

For a free, comprehensive guide for the important task of choosing a trustee, please contact Christine Hause at (941) 624-1917 or by email at chause@csbtfl.com.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any Federal government agency, and are subject to investment risks, including possible loss of principal.