Many banks and investment firms have trust companies which can act as Trustees. If there is a request for the Trust to make a distribution the Trustees must approve it and ensure that it is following the terms of the trust and the beneficiaries. Having had personal experience with this type of structure I can attest to their diligence. It is also possible to have co-trustees who are family members or friends and can act in concert with the co-trustees.
Notes for trust officers, private bankers and others concerned with estate and trust planning, from a Merrill Anderson Senior Editor and his retired mentor.
Wednesday, August 06, 2008
Protecting the Elderly and their Assets
Alexandra Lebenthal (you know, Alexandra and James) plugs trust companies in this post on the New York Social Diary:
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