Best Practices For Using Professional Trust Services (Also Known As Institutional Trustees)
Understandably, your initial reaction to hearing the term institutional trustee might be “What is that?” or “Oh, that sounds expensive!” However, if you possess a trust valued at $400,000 or more, you would be wise to learn about the services they can provide. Trust companies, lawyers, brokerage houses, and banks are the most common institutional trustees. If you have a relative or friend willing to serve as your institutional trustee, you may pay a lower rate or have your fees waived entirely.