Many people when creating trusts appoint their children or other family members as trustees.

 

The trustees are often also the beneficiaries to the deceased’s estate and this fact may pose some issues after the death of the settlor (the owner of the trust).

 

Appointing a Professional Trustee, can ensure that a totally unbiased approach is adopted when dealing with the deceased’s assets and that the settlor’s wishes are completely upheld.

 

The role of a trustee can be daunting for an untrained person and often decisions will be made which may not be completely in the interest of the beneficiaries. This may be simply because the trustees do not have a clear understanding of the impact their decisions may have on the beneficiaries' inheritance.

 

Cornerstone give consideration to the tax status, financial status and marital situation, of the intended beneficiary. For example, if the beneficiary were undergoing financial difficulties or entering into divorce proceedings. This ensures that the assets would not be lost to creditors or future ex spouses.

 

Advice can be crucial in preserving assets and ensuring as much as possible is received by the intended beneficiaries and is not lost to tax, divorce or in settlements to creditors.