The decision of whom to name as the trustee under an estate plan is the most permanent, long-term, generational decision that one may ever make. In the past, choices were few; now there are many.
Finding the right trustee for a family is harder today because of these many choices. Common choices have traditionally included friends, family, banks and Wall Street investment firms. Friends and family who are known and trusted may act with intents of best interest. However, they generally lack the technical skills, resources, and objectivity to serve effectively as the trustee. Whereas banks and Wall Street investment firms may have the skills and experience, they have a reputation for being impersonal, expensive, inflexible and slow.
We created a trust company that allows a family’s current trusted advisors to remain involved in the family’s wealth management. Wealth Advisors Trust Company (WATC) was created by advisors for advisors. Advisors using our trust company have the freedom to move from one broker/dealer or custodian to another. We are custodian neutral. The advisor has the freedom to invest the trust assets according to the customized investment strategy for your family. Another unique freedom is that WATC can easily be removed as the corporate trustee. In addition to all of these freedoms, the trust laws of South Dakota are consistently recognized as the most favorable of any jurisdiction in America.