Is it possible to appoint a corporate trustee?

Yes, you can appoint a corporate trustee for a fee. A bank or trust company can serve as administrator of your estate. They usually charge a percentage fee on the basis of the size of your estate. The fee can be a maximum of 1.5 percent of the value of your estate.

However, while a corporate trustee may be adept at handling the financial aspects of your estate, they are frequently unfamiliar with the family dynamics, and the needs of the beneficiaries. You may prefer to designate someone who is more knowledgeable about your family history. The person you choose can then hire a lawyer or accountant to handle any complex financial matters relevant to your estate.

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