TRUSTEE SERVICES

You have worked hard to provide for you and your family and you want to plan wisely for today and tomorrow.  While no one can predict the future, you can take steps now to guard and preserve all that you hold dear during your lifetime and for future generations.

Dynasty Trusts
You want to provide financially for multiple generations of your family.

Special Needs
Your child has a special need and receives public benefits. If you were to leave an inheritance to a child  outright, he/she would no longer be eligible for public assistance.

LFS offers an array of specialized trustee services based on the type of trust. Consider naming Legacy Fiduciary Services, PLC as trustee in the following situations:

Revocable Living Trusts
Name LFS as successor trustee in the event of your incapacity or death. 

Marital Trusts
You are married and have children from a prior marriage and want to make sure that your current spouse and children are provided for as you intend.

Minor Children
Your children haven’t reached adulthood yet, and you want to make sure they are all cared for and educated.

Adult Children
Your children are grown, but have personal issues that might result in their inheritance being squandered or taken from them.

Irrevocable Life Insurance Trusts
You establish a trust during your life to hold life insurance so that the insurance proceeds will not be included in your taxable estate.

 

How to Name Legacy Fiduciary Services, PLC in Your Trust

We encourage clients to name multiple contingent successor trustees so that if their first choice cannot serve for some reason, the named “back-up” can step in to avoid a trustee vacancy.


By naming multiple contingent successor trustees, you lessen the likelihood of a trustee vacancy. Nevertheless, it is prudent to “anchor” the list of successor trustees with an institution that, unlike an individual, does not get sick or die.


If you would like LFS to serve as your “anchor” institutional trustee or as an initial successor trustee, please advise your attorney. 


Unless you name LFS as your initial successor trustee, it will serve only if all your other named successor trustees fail to serve for some reason.  There is no charge for having LFS named as a successor trustee. LFS will charge no fees unless it steps in to serve in that capacity.