Your trusts are essential to your plan;
Your trustee is essential to your trusts.
So your trustee wears several important hats:
- Fiduciary: one with a legal obligation to act in the best interest of another.
- Investor and asset manager: wealth is maintained with the same care by which it is created.
- Surrogate patriarch or matriarch: the goals and philosophy should be the guiding principles.
- Secretary: all must be confident that no asset, no obligation, and no person has been forgotten.
- Jurisprudent: knowledge of tax, trust, and state rules is not optional.
Erickson & Whitaker supports trustees, both individuals and corporate, and serves as trustee in select circumstances. We have dedicated in-house asset managers, family support and logistics advisors, as well as trust accounting professionals.
Our key role is to ensure that the wishes of the founding generation are carried out and carried on through the succeeding generations in a manner that respects their values and identity.
The trust instruments themselves require a deep understanding of the law and a vision to its application and potential evolution. Successful trust administration draws on an understanding of needs of the individuals that are part of and affected by the plans on one hand and solid accounting mechanisms and reporting on the other.