Assigning a Trust Manager Over a Corporate Trustee

Trustee managers oversee the corporation's handling of the deceased's estate.

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Establishing a trust for your estate in the event of your death is one of the best ways to protect your assets and pass them on to your family. When establishing a trust, you must determine the person or entity that will serve as the trustee in charge of protecting the assets of your estate for the beneficiaries you have designated. The choice of a trustee is an important decision and one that should not be made lightly. If choosing a corporation to serve as trustee, you also need to assign someone within the corporation to serve as manager over the corporation when it acts as trustee.

When choosing a trust manager, one of the considerations you have to make is how much and what kind of powers you will give to the trustee and the manager in handling your estate. A paper posted by the American Bar Association recommends giving those involved in overseeing your estate a wide degree of latitude. Restricting the trustee or the trustee manager can be detrimental to the growth of your estate since the law is constantly changing, and the powers of the manager and trustee are spelled out specifically in the trust agreement.

Jared Lewis is a professor of history, philosophy and the humanities. He has taught various courses in these fields since 2001. A former licensed financial adviser, he now works as a writer and has published numerous articles on education and business. He holds a bachelor's degree in history, a master's degree in theology and has completed doctoral work in American history.