Trust Administration
John O. Scott, PLLC (the “firm”) provides trustee services and trust administration for small trusts, usually up to $1 million. Essentially, the firm can serve as trustee of your trust for a reasonable flat fee, working closely with the family to ensure that the trust’s directions and objectives are attended to with diligence and care for the benefit of the trust’s beneficiaries.
The firm has no minimum size requirements for a trust.
While serving as trustee, the firm does not manage investments, but works alongside your wealth manager allowing you to retain your trusted financial advisor. If you do not have a wealth manager, the firm will help you find one appropriate for your situation.
why use a Professional Trustee
Expert Management: Professional trustees bring specialized knowledge and expertise to trust administration, ensuring your trust is managed efficiently and effectively.
Impartiality and Reduction of Intra-family Conflict: A professional trustee provides unbiased oversight, crucial for fair asset distribution and mitigating potential family conflicts.
Legal and Acumen: Professionals are adept at navigating the complex legal landscape, ensuring compliance with current laws applicable to trusts and trustees.
Annual Accountings: In compliance with Texas law, professional trustees conduct precise annual accountings, offering transparency and building trust among beneficiaries.
Liability and Insurance: Professional trustees understand the heightened duty and potential liabilities that apply to all trustees (whether professional or not), often carrying insurance to protect the trust and beneficiaries against unforeseen risks.
Peace of Mind: The comprehensive approach of a professional trustee safeguards your legacy, ensuring it is preserved and protected for future generations.
