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The Role of a Corporate Trustee: Benefits and Considerations for Your Estate Plan

An estate plan is essential for safeguarding your assets and ensuring a smooth transition for your loved ones. One critical aspect of estate planning is selecting a trustee to manage and distribute your assets according to your wishes. In this comprehensive guide, we'll explore the role of a corporate trustee, the benefits, and considerations when incorporating one into your estate plan. Heritage Law Office is your experienced partner in estate planning, and we're here to help. Contact us online or at 414-253-8500 to schedule a free consultation today.

Why Choose a Corporate Trustee for Your Estate Plan

A corporate trustee is a financial institution or trust company that specializes in administering trusts and managing assets on behalf of beneficiaries. There are several reasons why individuals may choose a corporate trustee over an individual trustee:

Professional Expertise

Corporate trustees have the necessary knowledge and experience to manage complex estate plans and navigate any legal, financial, or tax issues that may arise. They can provide expert guidance on trust administration and ensure compliance with all legal requirements.

Continuity and Stability

Corporate trustees offer continuity in trust management, as they do not have the same life events or conflicts of interest that can impact individual trustees. They are also less likely to experience health issues or other personal circumstances that could interfere with their ability to perform their duties.


Corporate trustees can provide an unbiased approach to trust administration, ensuring that all beneficiaries are treated fairly and assets are distributed according to the grantor's wishes. This impartiality can help prevent disputes and maintain harmony among beneficiaries.

Factors to Consider When Selecting a Corporate Trustee

While there are numerous advantages to choosing a corporate trustee, it's essential to consider several factors before making a decision:

Fees and Expenses

Corporate trustees charge fees for their services, which may include annual fees, transaction fees, and commissions. It's crucial to understand the fee structure and compare costs among potential corporate trustees to ensure you select one that meets your needs and budget.

Trust Size and Complexity

Not all corporate trustees may be suited to handle every type of trust or manage the specific assets within your estate. Be sure to select a corporate trustee with the appropriate expertise and resources to administer your trust effectively.

Communication and Customer Service

It's essential to choose a corporate trustee with whom you can establish a strong working relationship. Consider their communication style, responsiveness, and overall customer service when making your decision.

Alternatives to Corporate Trustees: Individual Trustees and Co-Trustees

In some cases, an individual trustee or co-trustees may be more appropriate for your estate plan. Individual trustees can be family members or close friends who are knowledgeable about your assets and beneficiaries. Co-trustees involve two or more individuals or a combination of individuals and a corporate trustee, sharing the responsibilities of trust administration. These alternatives may offer more personalized service, lower fees, and a deeper understanding of the grantor's wishes.

Contact an Experienced Estate Planning Attorney at Heritage Law Office

Navigating the complexities of estate planning can be challenging, but you don't have to do it alone. Heritage Law Office is here to help you make informed decisions about your estate plan, including selecting the right trustee to meet your needs. For more information on our estate planning services and how we can assist you, contact our experienced attorneys using the online form or by calling us directly at 414-253-8500. Remember, we offer remote, phone, and online appointments, so you can receive our services wherever you are.

Contact Us Today

For a comprehensive plan that will meet your needs or the needs of a loved one, contact us today. Located in Downtown Milwaukee, we proudly provide legal advice to those in Milwaukee County and surrounding communities.

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Milwaukee, WI 53202
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