Corporate Trustees: a View from British Columbia

Stan Rule (what a good name for someone in the legal profession!) from British Columbia posts interesting comments concerning corporate trustees on his Rule of Law blog.

Check out his reasons for naming a corporate trustee:

In some circumstances, you might consider appointing a corporate trustee as the executor of your will, or trustee of a trust you create. For examples,

° You don't have relatives or friends whom you consider suitable for the job.

° Your estate is complex, and you wish to have a trustee with special expertise in financial matters.

° You are concerned about conflicts of interests or disputes between the beneficiaries of your estate.

° You have created trusts that may last for decades, and want to have a trustee that can administer the trusts until they terminate.

° You simply do not want to burden your family with the responsibility.

Note his comments on the loss of localized trust service from large trust companies. Seems Canada is picking up more bad business practices from the U.S.A.