Help w/ Co Trustee
 

Always have found help with The Villages people and will try again to get some good advice.
I AM NOT looking for financial advisors but more of trying to find REPUTABLE Firm to handle being "Co Trustee" on my Trust as we have no children and looking for someone that won't rob me blind with fee's as it's just a simple Trust and looking for someone that can distribute and manage Trust after I am gone and/or disabled and cannot do so.


Have been with Fidelity Investments for many years but not happy with their Trust Dept and thought I would compare others...while I can


Appreciate any and all advice. Thank you

Sable Trust--- Offices in the Villages @ Lake Sumter Landing

Schwab and Vanguard also have trust depts. I do not think Schwab charges a fee if they are just stand by until you can not perform.

It may be more difficult than you think to find someone who will act on your behalf when you are alive. The attorney who prepared my will said that she could not refer me to anyone who will do it because of the liability involved. You really need to find someone you know and trust to be a power of attorney or trustee if and when you become disabled. Apparently, almost any bank or investment firm will be happy to be your trustee after you die.

My thoughts
 

[QUOTE=TwinTurboViper;1625223]Always have found help with The Villages people and will try again to get some good advice.
I AM NOT looking for financial advisors but more of trying to find REPUTABLE Firm to handle being "Co Trustee" on my Trust as we have no children and looking for someone that won't rob me blind with fee's as it's just a simple Trust and looking for someone that can distribute and manage Trust after I am gone and/or disabled and cannot do so.


Have been with Fidelity Investments for many years but not happy with their Trust Dept and thought I would compare others...while I can


Finding,"someone," I would look for a firm. Off subject a bit-my parents hired an atty to do their will. When, they passed there were some issues, we had copies not the original. So we went to find the original atty and found she was out of business.
You want to find a firm. A firm that will be there after we are long gone.

As to Fidelity and their trust department. I have no knowledge that Fidelity has a trust department. I do have an account with Fidelity. I think it is a major advantage to us that they have an office in Lake Sumter landing and you can talk to a HUMAN.

You mention you are not happy with Fidelity's trust department.
I assume, you have an account perhaps, you should schedule a meeting with the account manager listed on your account and see what can be improved.

Far as fees. While ALL these firms love you and me they are in it for the money. Don't allow yourself to believe otherwise.

If you don't have someone you trust to handle your assets, I think it is better to just let your trust beneficiaries inherit the money. Appointing an investment firm to distribute trust assets over time after you die will most likely cost a lot and not achieve what you intended. A firm like Fidelity or any firm may not "rob you blind", but they will certainly spend a lot of the money on management fees, legal fees, accounting fees, tax preparation, and who knows what else.

trust
 

TwinTurboViper,

It sounds like you may have not had your wills, etc updated to Florida standards. I would do this first, as it may solve all of your problems and concerns. Since you are concerned about the period after your death. you should be able to have a person or firm designated to take over only after your death, once again a lawyer specializing in elder law will be very helpful. We used Pittman Law, and were very happy.

Thanks to each and everyone for your comments and/or advice. It is greatly appreciated