Busting the Myth About Corporate Trustee Fees

 In his September Illinois Bar Journal article, “Busting the Myth About Corporate Trustee Fees,” Jay E. Harker notes that many Illinois attorneys—some regularly, some occasionally—draft revocable, living trusts, and that all of them know firsthand that clients overwhelmingly prefer to designate family members as their successor trustees. This very often this works out just fine for all concerned, Harker notes. But he suggests that some estate-planning scenarios scream for serious consideration of a corporate trustee.

Harker challenges the notions that corporate trustees are always much more expensive and that the cheaper route of relying on an individual trustee is always the better option. 

Read the August IBJ article, "Busting the Myth About Corporate Trustee Fees."