Help from a Corporate Trustee:
Professional Support for Complex Estates

You may choose to hire a corporate trustee to manage the administration of your estate in the case of your incapacity or death for a variety of reasons. This includes the availability of legal, accounting and business management expertise in-house. Such expertise can be invaluable when an estate is complex and requires special professional attention to protect its assets and minimize taxation.

The most common situations where corporate trustees may be considered are:

  • where minor children are involved in an estate and related trusts are likely to exist for a number of years;
  • where estate assets are significant in size and/or complex in nature;
  • where family members do not have the time or capacity to administer the estate;
  • where family members reside outside of the geographical area of the deceased;
  • where there is a second marriage and an impartial trustee is required.

Trust officers require an understanding of the law, taxation, and asset administration in both personal and business contexts. They may also be required to deal in tense or delicate situations involving family members, business associates, debtors, and creditors, and to conduct investigations into missing assets or heirs to an estate.

The corporate trustees who are members of the Estate Planning Council of Edmonton are officials and employees of trust companies, banks or similar institutions. They are experienced and highly qualified individuals with a range of specific knowledge and human-relations skills.