Independant trustee

[Basment Dweller]

I agree. My independent trustee is the very same specialist trust attorney who set up my trusts.

I suspect this trust specialist is on your payroll right? What deliverables does this guy produce for you on a monthly basis? What powers does he have? I believe the independent trustee has to countersign a lot of documents and has access to you bank accounts. Do you have a trustee meetings no a bi-anual basis?

[Houses4Rent]

Of course they do not do anything for free, but its inexpensive. I do not need them often, but whenever I need a resolution they draft it and send it to me already signed. If there are major (legal) events which affect my trusts I expect them to notify me. They answer my questions when I have any. They also hold seminars from time to time which are free as they are more a marketing exercise, but sometimes I go and earn something new or just a refresher.

I never have physical annual meetings. The annual meeting is rather held with my trust accountants to prepare and discuss the AFS. Those accountants then get them to the independent trustee for signature. And some short meeting minutes are part of that exercise to be compliant.