Trusts for each family are designed to keep the family in control of trust governance while avoiding excessive costs and conflicts of interest associated with Bank and Broker Dealer affiliated trust departments.

Multigenerational planning requires competency in the many trust variations available to high-net-worth families including charitable trusts, trusts established during lifetime, and testamentary trusts that are established at death. Further complexity is added when trusts are created with over a 300-year duration, requiring specialized design to keep the family in control of trust governance and to protect future beneficiaries.

Trustees must shoulder the responsibility of a fiduciary for the beneficiaries of each trust. This requires adoption of a durable structure compliant with fiduciary standards for the management of trust assets.

Specific beneficiary dynamics often dictate a need for a trustee independent of the family. When circumstances require a corporate trustee, we maintain relationships throughout the country with independent corporate trustees compliant with the state that each trust is domiciled. Corporate trustees engaged by our clients are focused solely on trust administration and are not conflicted by an affiliation with a Bank or a Broker Dealer.

Abridge Partners does not provide legal or tax advice.  All of our clients should and do consult with their legal and accounting advisors for legal and tax advice.