I have not always been an advocate of corporate trustees. Quite the contrary. I used to give a standard speech when my clients were wondering whom to name as a trustee. “You could appoint a corporate trustee,” I'd tell them. “But keep in mind that corporate trustees charge a lot; they have frequent staff turnover; and they invest conservatively in their own pooled funds with very low returns. On the other hand, they are permanent and cautious. So if you want a corporate trustee, be sure to ...

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