Serving as a trustee requires financial responsibility, accountability, investment knowledge, objectivity, and experience, all of which can be found at Heritage Trust.
As an independent fiduciary, we have one loyalty – you. We can serve as a trustee, co-trustee, successor trustee, or as agent for the trustee. As agent, this partnership allows the named trustee to continue to serve in this role while Heritage manages the daily maintenance, including bookkeeping, investing and reporting. With Heritage Trust as agent, the named trustee can continue to focus on core business or other personal priorities and leveraging the expertise of industry professionals all while maintaining the relationship with the family.
Generally, trustees are responsible for the following:
- Abiding by the fiduciary standard – putting client’s best interest first
- Holding and securing trust assets
- Managing and investing trust assets
- Distributing trust income and/or principal to the beneficiaries
- Making tax decisions concerning the trust
- Reviewing and filing income tax returns on the trust
- Issuing periodic statements of account to the beneficiaries
- Answering questions and explaining the operations of the trust to the beneficiaries