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Whom should I name as an administrator of a trust?

admin trust

admin trust

New York - If you first choosing an administrator for your trust consider the following:

  • Interview several bank and trust companies.

  • Look for a proven track record as as asset manager and administrator

  • Inquire about their communication with beneficiaries, how they distribute assets and what their fee structure is

  • Consider giving the right to your beneficiary to change the trustee. You can pre-select several "pre-approved trustees or allow your beneficiary to use best judgment.

  • Ask for references in the form of beneficiaries served. These individuals are the end customer of the trustee; thus, you will find out the good and the bad from them.

An independent Fee-Only financial adviser can help you determine an appropriate trustee. 


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