Monday, 08 July 2019 15:58

The Case for the Corporate Co-Trustee: Modern Family Dynamics

As families in the U.S. change, many life factors, which are common today, may require extra work in the future. This is especially true when it comes to trust and estate administration and planning. Below are just a few factors that could affect your family’s trust and estate plan:

  • Blended family
  • Divorce or remarriage
  • Sibling rivalry
  • Mental illness
  • Substance abuse
  • Addiction
  • Inability to handle money
  • Dependent(s) with special needs
  • Family member(s) with disabilities
  • Financial vulnerability
  • Lack of financial expertise
  • Lack of time to commit to administrative tasks
  • Lack of sound judgment
  • Family members separated by distance

If you are concerned about any of these factors in your own family, it is worthwhile to consider using the help of a corporate trustee or co-trustee.

At Cumberland Trust, we believe the corporate co-trustee framework is an ideal solution for families with wealth. In this arrangement, a family member or individual shares the responsibility of trusteeship with a corporate trustee like Cumberland Trust.

To learn more about The Case for the Corporate Co-Trustee, see our other articles in this series:

The Case for Corporate Co-Trustees

The Case for the Corporate Co-Trustee: Preserving Family Harmony

The Case for the Corporate Co-Trustee: Continuity for your Family


More from Cumberland Trust

The Distinctive Care Team - Serving a Growing Population in the U.S.

Spotlight: Distinctive Care - Elder & Special Care

Spotlight: Commitment to Client Service in Personal Trust Administration


 

 
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Cumberland Trust
40 Burton Hills Blvd, Suite 300
Nashville, TN 37215
 
 
615.783.2540
 
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