CONCEPTUALLY SIMPLE, YET QUITE COMPLEX
Trustee Role

A trustee’s role is conceptually simple, yet quite complex.

In its simplest description, the trustee’s role is to steward the legacy of the trust creator for the intended beneficiaries, both current and future, as that legacy is expressed within the governing trust document. Although simple in concept, complexity comes in the application.

More specifically, a trustee’s role is to oversee the legal, tax, finance matters which are required when administering a trust.  An additional area of complexity unique to trusts are the details of “principal” and “income”, and how such are differently addressed from both a trust administration and accounting perspective.

But most importantly, and perhaps the most complex, is overseeing how the lives of the beneficiaries intersect with the expressed intent and purpose of the trust. Will this trust become the productive gift which all trust creator’s intend, or will it become a source of generational conflict and friction amongst the family?

The actual result, in large part, may be dependent upon the trustee.

Trustee Services Group's Perspective & Approach

We intimately understand our role and purpose, which is to steward the legacy of the trust creator for the benefit of the trust beneficiaries (emphasis ours, and likely also yours).

We believe our privileged role is about much more than finance, taxes, accounting and the legalities associated with administering trusts. Success ultimately comes from a focus upon the uniqueness of the trust beneficiary(ies), and how the trust can achieve its expressed intent for that individual, while simultaneously guarding against those matters which the trust creator perhaps also desired for the beneficiary to avoid.

From our experience we have found the best way to deliver success for the trust creator, the trust beneficiary and family is to involve those the family respects and trusts in the stewardship of the trust creator’s financial legacy.

This is exactly why we embrace an Open Architecture™ approach by working alongside the family’s chosen team to ensure the beneficiaries enjoy the full benefits of the trust as designed and envisioned by the trust creator.

By encouraging a collaborative partnership amongst those the trust creator and/or beneficiary want to be involved, Trustee Services Group’s Open Architecture approach allows for a family-structured “best in class” answer to the complex responsibilities of a trustee, and diverse issues which can be presented when addressing wealth, family and trusts.

It also means, we do not impose wealth management solutions or rigid models on the family. Rather, we enable — and encourage — the family to manage their wealth in the manner they desire with the team of advisors they respect and trust. This enables the family to enjoy a more robust and customized offering of wealth management, and to better maintain multi-generational relationships with those who already know and understand them.

By involving the families chosen team, and thereby retaining the knowledge and understanding of the trust creator, the beneficiary, and perhaps the next generation of the family which the client’s team has collected through the years, the client team becomes uniquely positioned to collaboratively help the family successfully navigate through the complexities of wealth in family, while also ideally implementing the desired multi-generational legacy which the trust creator envisioned.

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We Are Here to Help Families Protect and Enrich a Multi-Generational Heritage.