Why Choose a Corporate Trustee?
When it comes down to it, it is vital that you choose someone that you trust and can rely on to be your trustee. Here are just a few reasons why a corporate trustee may be a good choice for you:
Trust law is specialized. From record keeping to cash-flow management, a trustee must recognize each action’s legal implication, tax implication and overall impact on beneficiaries.
A corporate/bank fiduciary will always be available. A corporation is a perpetual entity. Trust assets are protected by placing the following constraints on trust activities.
Bank trustee is audited by internal auditing firm annually to assure no loss of funds through improper
Bank trustee examined by federal and state regulatory
Bank beneficiary has recourse against bank’s assets.
Bank trustee is also required to pledge assets to regulatory authorities for protection of trust clients. Prudent investing provides an element of safety. Banks have expertise and resources to investigate various investment opportunities.
A bank has no vested interest in the trust and, therefore, can remain objective about any issue or beneficiary. The law and the intent of the Trustor govern in executing duties.
A bank trustee has the time, resources, expertise and objectivity to carry out Trustor’s wishes.
*Oregon Pacific Bank’s trust department offers products that are not FDIC insured, are not guaranteed by the Bank, and are subject to loss of principal