American National Bank of Texas

 
Trust

Comparing Trustee Choices

Your choices of trustee or successor trustee may include a family member or friend, professional advisor such as an attorney or CPA, or a corporate trustee. Each choice offers specific advantages and disadvantages. It may be helpful for you to consider these choices in the context of the duties of the trustee and the desired qualities outlined below.
 

Trustee Choice

Considerations

Duties

Trustee must either perform or contract for services required by the trust.
Family Member Contracts for legal, accounting, investment and other services
Professional Advisor (Attorney or CPA Administers own area of discipline; contracts for other services

ANBTrust

Must services bundled in "turn-key" package; contracts others

Ability &
Readiness to serve

Potential trustees cannot foresee personal situations. A Trustee's duties may extend for many years and span generations
Family Member Risk of personal conflicts or preceding you in death
Professional Advisor (Attorney or CPA Risk of personal conflicts, retirement or preceding you in death

ANBTrust

Established specifically to provide continuous service; potential for some organizational risk

Competence

Varies in manner similar to duties.
Family Member Not usually their area of expertise
Professional Advisor (Attorney or CPA May not be an area of expertise

ANBTrust

Core business function; professionally trained

Experience

May span a wide range based on specific trustee
Family Member Varies by individual background
Professional Advisor (Attorney or CPA Likely to have significant experience in own area of discipline, administrative skill less certain

ANBTrust

Provides professional staff that possesses trust experience and skills

Objectivity/
Free of Conflicts

Trustee's interests may conflict with beneficiaries.
Family Member May have specific conflicts if also named as a beneficiary a common source of discord among siblings
Professional Advisor (Attorney or CPA As Administrator, may make decisions involving payments for own professional services and have other family roles

ANBTrust

Unbiased interpretation of trust document and administration
 

Family Member

Professional Advisor

ANBTrust

Other Trust Considerations

Other considerations such as the type of trust you set up, the purpose of the trust and the size and assets included in the trust should be taken into account when choosing between an individual, professional or corporate trustee.

The Trust will pay out immediately upon the grantor's death
The Trust will continue for a number of years    
The grantor needs an unbiased trustee during incapacity  
Trust is a charitable trust or foundation  
Trust is under $200,000  
Trust is between $200,000 and $500,000  
trust is over $500,000    
Leaving ANB site

You are leaving the www.anbtx.com website. ANBTX provided this link for your convenience and is not responsible for the content, links, privacy or security of information on non-ANBTX sites.

I want to GO BACK
I want to CONTINUE
Alert

Online banking enrollment is temporarily unavailable. Please check back. If you need immediate attention please call our customer service number 800-837-6584.

Alert
This ANBTX online loan application is temporarily unavailable.
Please check back. If need you immediate attention please call our customer service number 800-837-6584.