Traditionally, a trustee is responsible for all areas of trust management and administration, including:
Modern trust laws, however, let people who create trusts divide responsibility for these functions among multiple parties, whose liability for each other's actions is strictly limited. This type of divided trusteeship is called a directed trust: a party, often called a trust director or trust advisor, has the power to direct the trustee in performing certain functions spelled out in the trust instrument, and the trustee must comply.
Trail Ridge Trust Company, LLC, a Wyoming trust company, is uniquely positioned to consult with you and your estate planning attorney if you want to create a directed trust, and is pleased to serve as either a directed trustee or trust director/advisor.* We would welcome your call to discuss how a directed trust may be right for your situation.
*Trail Ridge Trust Company, LLC, evaluates each fiduciary appointment and decides case-by-case whether it will serve as a directed trustee or trust director/advisor.