The demand for professional Trust and Estate administration is an area that is experiencing significant growth. This growth is caused by a number of factors including our ageing population, our modern family structures, and the vast distances that spread family members apart.
Estate professionals are being asked to step in and help families resolve emotionally charged family disputes.
There are several Trust companies that provide Estate services to clients in the Edmonton area. While most people think of the major banks when they are looking for a private company to be Trustee for their Will there are a couple of private Trust companies that are excellent alternatives.
How large does your estate need to be before a Trust company will look at your estate? It depends on which Trust company you are looking to hire. Some Credit Unions will take estates from $300,000.00 in value. Most banks want to work with estates that are in the million-dollar range. For many estates of this size, the responsibility of dealing with these assets, especially if there are business assets or property outside Alberta, is too great for your average everyday Executor. Add in the non-traditional family with step-children or same-sex common-law couples, and a Trust company is an excellent alternative.
If you have questions or concerns about the possibility of using a Trust company as your Executor, contact our office today to discuss your needs. We are here to help.