Trustee Services. Choosing the right trustee.
all want the peace of mind that comes from knowing we have chosen the
right trustee to protect and administer the assets we have worked a
lifetime to accumulate. Some people choose to name a spouse or child, a
friend or an attorney – but unfortunately there are risks involved with
each of these choices.
members may not be able to serve effectively as trustees because of
emotional turmoil, distance, unfamiliarity with your situation, or a
lack of investment knowledge. The same is true of friends. Attorneys
may be very knowledgeable in some areas, but there is an inherent
conflict of interest when an attorney drafts a trust agreement and
serves as trustee.
who have never served as trustees often find themselves overwhelmed by
the duties required of them. They may, quite innocently, make an error
in investment policy, accounting, or distributing assets. This may
cause conflict or expose them to personal liability. An individual
trustee, especially one who has other things to do, could forget to
reinvest income or tender a security when a bond is called or stock is
sold – costing the trust its income.
Capital City Bank serves as trustee or in a trust settlement capacity,
we accept the responsibility involved in coordinating the efforts of
your attorneys and accountants. We keep detailed records to effectively
manage the settlement of your trust with the lowest possible cost and
taxes. More importantly, we assure that the assets in the trust are
distributed according to your wishes. Placing these responsibilities in
the hands of a qualified trust-settlement specialist – like Capital
City Bank – relieves someone close to you from settling your affairs.
Capital City Bank offers Trust Services to suit every need.
of the biggest advantages of choosing a corporate trustee, like Capital
City Bank, is the wide variety of services we can offer, including:
· Establishing the right trusts for the right purposes.
· Collecting, safeguarding, valuing, and investing assets.
· Administering the trust assets to achieve objectives.
· Accounting for the trust assets under the Principal and Income Accounting Act.
· Budgeting and analyzing cash flow for the beneficiaries.
· Reporting account transactions and investment performance periodically.
· Paying bills and managing other custodial services.
· Handling periodic or demand disbursements, including documentation.
· Compiling and filing trust tax returns.
· Distributing trust assets when required.
· Providing complete estate and trust settlement services.