At Legacy Private Trust we can work with you in a variety of capacities. Depending on your situation, it may be appropriate to appoint Legacy Private Trust as Trustee, Estate Trustee, Agent, Guardian or Custodian. Below are descriptions of the different types of appointments:
Acting as Trustee
A trust is such a flexible legacy building tool that it takes many forms. Some examples are the family trust, the alter ego trust, the living trust, charitable trusts and foundations, settlement trusts, asset protection trusts and statutory trusts such as condominium insurance trusts and cemetery trusts.
Legacy Private Trust can be appointed as sole Trustee, co-Trustee or alternate Trustee in a Trust Deed, Will or Codicil when your lawyer is drafting the document. Alternatively, Legacy Private Trust can be appointed as Agent by your chosen Trustee. In some cases a court appointment may be necessary to appoint Legacy Private Trust as Trustee.
Acting as Estate Trustee
We are happy to administer your estate in a number of capacities. We can act as your sole Estate Trustee, co-Estate Trustee with a family member or a friend or as an alternate Estate Trustee who steps in if your Estate Trustee becomes unable or unwilling to act.
Legacy Private Trust can be appointed as sole Estate Trustee, co-Estate Trustee or alternate Estate Trustee in a Will or a Codicil to your Will. In either case the appointment will have to be included by you and your lawyer when you are drafting your Will or Codicil. Alternatively, your chosen Estate Trustee can appoint us Agent.
Acting as Agent
Legacy Private Trust can act as your Agent in a wide variety of circumstances. This includes acting as an Agent for a Trustee, Agent for an Estate Trustee, Agent for an Individual, Power of Attorney, Agent for a Foundation, Corporate Agent, Escrow Agent and many others.
Legacy Private Trust can be appointed Agent by your chosen Estate Trustee, Trustee or by you in your Will, Codicil or Trust Deed or in some cases a separate agreement between Legacy Private Trust and the parties involved. As an Agent we can act with varying levels of authority delegated by you.
Acting as Guardian
Legacy Private Trust is able to act as Guardian for Property or as Agent for someone who has been appointed Guardian for Property for a minor child or an adult who cannot manage his or her financial affairs. Although a Guardianship is a type of trust we have separated it because of its distinctiveness.
Legacy Private Trust can be appointed as Guardian through a court appointment or as Agent by a Guardian for Property in a separate agreement between the Guardian for Property and Legacy Private Trust.
Acting as Custodian
Individuals and corporations will find circumstances where the services of a Custodian are required for holding assets. Although a Custodian appointment is a type of Trustee appointment, we have separated it because of its distinctiveness. In most cases a Custodian appointment is accompanied by an Agency appointment so that we can assist with a more specialized level of administration.
Legacy Private Trust can be appointed Custodian in an agreement between Legacy Private Trust and the parties involved.
For those with international legacy building requirements we have correspondent trust companies in a variety of jurisdictions. These correspondents can assist in acting as a Trustee for living trusts, asset protection trusts, immigration trusts, in-bound resident trusts and out-bound non-resident trusts.
Legacy Private Trust is happy to help coordinate any trusts that need to be set up in other jurisdictions. Similar to the Trustee appointments that are mentioned above, it is necessary to appoint an International Trustee in a Will, Codicil or Trust Deed prepared by you and your lawyer.