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Corporate Trustee

Why should you name a corporate trustee?

If a trust is part of your estate plan, naming a trustee to be responsible for managing your assets and legal affairs is one of the most important decisions you can make. Having served as a corporate trustee for more than a century, Wells Fargo offers the extensive knowledge and experience necessary to handle your trust.

The advantages of choosing a corporate trustee

A trustee has the fiduciary duty, legal authority and responsibility to manage your assets held in trust and financial matters on your behalf. The trustee can be an individual, association or corporation.

Before naming a trustee, it’s necessary to understand the complexity of roles they play in administering a trust. If, for example, you are considering an individual such as a family member or a trusted advisor, make sure they have the time, knowledge and desire to assume this role.

Also your choice may be competent and trustworthy, but their personal circumstances may change—they may predecease you, retire or move to another location.

For all these reasons, you may want to consider naming a corporate trustee.

Maintaining family control

When considering a corporate trustee, choosing one of the options outlined below allows your family to remain involved:

  • You can appoint a family member as co-executor and/or co-trustee, along with a corporate trustee
  • You can give your beneficiaries the power to remove and replace the corporate trustee
  • You can coordinate the naming of a successor trustee, executor and agent

You should also review your will and trust every couple of years to confirm that it continues to meet your needs.

Why select Wells Fargo as your corporate trustee?

As a corporate trustee, Wells Fargo has a number of important strengths that help us develop effective trust solutions and safeguard your interests:

  • ExperienceWells Fargo has a long tradition of acting as corporate trustee.
  • Objectivity – we are dedicated to following your instructions and making impartial, objective decisions.
  • Knowledge – our trust and fiduciary specialists are highly skilled in trust and estate administration.
  • Permanence – as a large institution with a long history, we’ll be able to serve you and your beneficiaries over the many years required to administer most trusts.
  • Compliance – we have the experience and resources to administer your trust in full compliance with federal and state regulations.
  • Reliability – you can take comfort in knowing that corporate trustees are held to higher standards of care in terms of asset safeguarding and management.

Deciding whether to have a corporate trustee, and selecting the right one, is a highly complex process with a great many factors to consider.

The consequences of the decisions that you have to make are so large that we urge you to consult with our trust and fiduciary specialists for an experienced and objective perspective on your situation. Please contact us at your earliest convenience to begin to explore the options available to you.
 
Wells Fargo Private Bank provides products and services through Wells Fargo Bank, N.A. and its various affiliates and subsidiaries. Wells Fargo & Company and its affiliates do not provide legal advice. Please consult your tax or legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of you own situation at the time your taxes are prepared.

Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.
Investment Products: Are Not insured by the FDIC or any other federal government agency - Are Not deposits of or guaranteed by the Bank or any Bank Affiliate - May Lose Value