The Value of a Corporate Trustee

You've heard folks talk about using trusts to help you achieve your financial asset protection and wealth preservation objectives. I want to talk to you about choosing the right trustee, which may or may not be your spouse, oldest child or most trusted friend. 

Often, an individual trustee has history with the beneficiary and therefore finds it difficult to put aside their personal feelings and fulfill their fiduciary duties impartially and in the best interest of the beneficiary. An individual trustee can find themselves unwittingly going from trustee to tyrant, when the beneficiary pushes or makes demands. Where an individual trustee causes the trust to incur monetary damages, there is little a beneficiary can do to hold that individual accountable because an individual trustee often does not have the financial means to pay for the damage they've caused. A beneficiary's only recourse may be senseless, expensive and generally avoidable litigation. The costs of litigation are usually born by the trust to the detriment of the beneficiary. 

Texas Capital trustees have decades of combined experience spending the significant portion of our careers managing various types of trusts. Each trust has a dedicated trustee. However, if that individual is not immediately available, there is a team of professionals who provide uninterrupted trust administration. The trusts team consists of a dedicated Investment Advisor, a Private Client Advisor, as well as support staff, all of whom are committed to providing excellent customer service. 

The right trustee can prevent loss, provide financial guidance to beneficiaries and ensure your legacy. The wrong trustee can cause financial harm to the trust, neglect the beneficiary, fail to be transparent or otherwise abuse their power. A trustee does more than manage assets and distribute funds. A Texas Capital trustee appreciates and grasps all of our fiduciary duties, does not have a predisposition towards a beneficiary, minimizes conflicts of interest and has the beneficiary's best interest top of mind. 

Texas Capital Private Bank has the capability and competence to serve as either co-trustee or sole trustee to ensure your trusts are administered properly with professionalism and accountability. Texas Capital stands behind our trustees, and if a mistake is made, the trust will be made whole. Moreover, we offer you and the beneficiaries the full suite of Texas Capital's products and solutions, including, but not limited to, financial planning, credit, business succession, treasury and wealth strategy. My name is Whitney Blair, and I am Chief Fiduciary Officer with our Private Bank team. If you are thinking about establishing a trust or have a trust already established, please reach out to me. My team and I are impassioned about serving as corporate trustee, and welcome the opportunity to discuss our services with you.