A disadvantage is that they may not have the same institutional structure that a trust company will have. Lawyers and accountants generally charge their hourly rate for the time they spend serving as trustee. While they will often charge more than a friend or family member, they typically charge less than a trust company or corporate trustee. The advantages of a lawyer or an accountant serving is that they have familiarity with your family if you have worked together for a long time. You may want someone with a little more distance who will see your beneficiaries with a fresh set of eyes and treat them equally. Or, he may have a power trip and enjoy being in control of your beneficiary’s finances. On the flip side, your children may resent their uncle getting paid from their money if he does take a fee.Īnother disadvantage is that your family member may be too close to the family and may get caught up in the drama. Your brother may resent not getting paid while overseeing trust assets for your children whom he perceives as being ungrateful. It could also lead to resentment if the family member does or does not take a fee.
#How do i choose to trust citrix viewer professional#
Your family may be better served with a professional trustee or trust company who have expertise with trust administration. Cost conscious clients see this as a plus, but it may not be the best decision. In addition, family members often do not charge a trustee fee (although they are usually entitled to take a fee). They are going to be most familiar with you and your family, and they will understand your family’s dynamics. Most people like to start with considering friends and family members as trustees.