RECENT DISCUSSIONS

Raising Money Smart Kids
Author: Tammy Gage, Community Relations Officer

Banking on the Future of Texas Communities
Author: Rogers Pope, Jr, Vice Chairman and Chief Executive Officer

Spring Cleaning for Your Personal Finances
Author: Aaron May, Advertising Coordinator

Women's History in Banking
Author: Tawny Browning

Staying Connected Through Social Media
Author: Sherry Gibbon, Vice President, Community Relations and OMNI Manager

Did you ever think that you would be able to ‘Pay’ with a watch?
Author: Sheri Parish

Wide Angle Lens
Author: Kimberly Spinks

12 Resolutions for 2016
Author: Amy Proctor

Common Factors Affecting Retirement Income
Author: Amy Proctor

Christmas is the time for...Savings
Author: Tawny Browning

How Women Are Different from Men, Financially Speaking
Author: Mitzi Bjork, Financial Advisor

Don’t Get Caught in a Cyber P.L.O.T.
Author: Sherry Gibbon, Vice President, Community Relations and OMNI Manager

Experiencing the Unexpected
Author: Karen Partee

New Chip Technology Enhances Consumer Security
Author: Crystal Hardy, Vice President and Bank Card Change Coordinator

Retirement Plan is the Key to Confidence, Survey Finds
Author: Jerry Martin, Financial Advisor

My Marriage Misconception
Author: Tawny Browning

Journey from a Cool Kid to the Student Board
Author: Joycelynn Rusk

Social Security Claiming Strategies for Married Couples
Author: Curtis Hinshaw, Financial Advisor

EMV and Merchant Card Services
Author: Leslie Paull

Setting Up a Plan
Author: Bonni Kids

 

How We See It

Craig Chaikin

Craig Chaikin

Posted:
August 3, 2012

Do I Need a Trust Agent? What's the Benefit?
By: Craig Chaikin, Vice President & Trust Officer

A dilemma we see often in our business is whether or not an individual wants to or is able to take the responsibility to serve as executor or trustee. Many times individuals are named by a friend or loved one and may not know until after that person passes away. Alternatively, perhaps they do know, but their life circumstances have changed and serving is no longer an option. This is where a Trust Department can bridge the gap. However, if an individual wants to serve (either because they are willing or feel a duty to do so), a Trust Department can still serve as their agent. What this means is that the executor or trustee can hire the Trust Department to do the work (marshal the assets, manage them, handle all of the legal and accounting duties, etc.), but the individual executor or trustee still maintains the final say. It allows an individual to have access to the expertise and resources of a corporate trustee, but still affords them the control they may desire. A corporate executor/trustee like Texas Bank and Trust can also be named as a successor should an individual be unable or unwilling to serve.

There can be several options based on individual circumstances. If you are unsure which route to take, you can always interview a corporate trustee like Texas Bank and Trust to see exactly what they can do for you. Such initial consultations are most often free of charge.

 
 
 
 

Post a Comment

All comments are subject to approval. Read more.

 
 

About TBT

Who We Are Join Our Team People Who Make a Difference TBT Spirit of Giving Contact Us Site-Map

Helpful Links

AnnualCreditReport.com FDIC Consumer News FAQs

Consumer Protection

Fraud Protection Center FDIC Update Privacy / Security Disclosures
Member of FDICAn Equal Housing Lender
 
Powered by Encore Multimedia.
ABOUT SSL CERTIFICATES