MASSACHUSETTS TRUSTEE SERVICES

FIDUCIARY SERVICES

The determination of who will be the trustee of your trust is a very important decision. The person who becomes your trustee will have to oversee administrative tasks, determine when distributions are made and be cognizant of the tax and trust laws that affect the administration.

Sometimes, our clients are at a loss in selecting a non-professional trustee because their inner circle does not include anyone they trust in this role or anyone they do not want to burden with this responsibility. In limited instances we agree to serve as a successor professional trustee. Note that this is a very different role from Eckert Byrne LLC serving as attorneys to the trust. As attorneys to the trust, we represent the trustee in advising them in their role, while, as an appointed professional trustee, we take on the fiduciary duty to serve in the best interests of the beneficiary and take on the responsibility of all trustee duties.

An estate must be managed carefully and take into account different types of assets, specific wishes, and unique needs of the beneficiary. For individuals who are in need of a professional trustee for assets held in trust or in another fiduciary capacity, while controlling investment decisions themselves or by their chosen advisors, Eckert Byrne LLC may be the right choice. Trustee services are specific to the trust document and circumstances. Please contact us to schedule a consultation to discuss your specific matter.

ARE YOU LOOKING FOR A PROFESSIONAL TRUSTEE?

    BENEFITS

    • Professional guidance through the administration of their or their loved one’s trust
    • Assurance that the trust is properly administered, thereby reducing liability exposure
    • Ensure that their loved one’s wishes are properly carried out
    • Relieve family members from trust administrative burdens
    • Continued relationships with the client’s advisers including financial and accountant professionals
    • Remove the tension that may exist between family members by providing a professional process for the administration
    • Explain trustee provisions including permissible distributions and pertinent terms
    • Help the beneficiary understand the client’s legacy goals
    • Work with the beneficiary to understand goals and objectives and how trusts are best used
    • Maintain asset information and accounting of distributions, fees, taxes and cost basis of assets for tax filings
    • Timely file and pay taxes in conjunction with the CPA
    • Provide statements to beneficiaries
    • Pay trust expenses including professional advisory fees, insurance, etc.
    • Ensure that distributions are made in the most advantageous and tax efficient manner
    • Determine when and how distributions are made, as permitted by the trust

    HOW ECKERT BYRNE CAN HELP

    An estate must be managed carefully with consideration given to the nature of the assets, the individual’s wishes, and the unique needs of the beneficiaries. For individuals seeking a professional trustee to administer assets held in trust or serve in another fiduciary capacity, while maintaining control over investment decisions either personally or through their chosen advisers, the following fees apply:
    Fees for Professional Trustee services: 0.60%* of the value of the trust assets per annum
    Minimum fee: $8,500 per year
    *Trustee services are specific to the trust document and circumstances. Please contact us for a consultation to discuss your specific matter.