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Choosing a Professional TrusteeChoosing a Professional Trustee

A value proposition worth considering.

12 Min Read
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Today, more of our clients are becoming receptive to planning that uses irrevocable trusts intended to manage significant wealth for future generations of the settlor’s family. Consequently, the idiom “you get what you pay for” may be more relevant than ever when selecting a trustee who may be responsible for managing extensive wealth for infinitely longer periods of time.

At its core, a trust instrument creates a contractual relationship that imposes fiduciary responsibilities on the trustee to administer trust assets for the benefit of beneficiaries, in accordance with the terms of the agreement. Trust agreements are often lengthy and complex documents governed by ever-evolving and complex tax laws. Whether or not the trustee is able to...

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About the Authors

Stacey M. Valentine

Partner, Avelino Law, LLP

Stacey M. Valentine is a partner at Avelino Law, LLP in Summit, N.J.

Joy Matak

Tax Director, CohnReznick

Joy Matak, JD, LLM is a Partner at Sax and Leader of the firm’s Trust and Estate Practice. She has more than 20 years of diversified experience as a wealth transfer strategist with an extensive background in recommending and implementing advantageous tax strategies for multi-generational wealth families, owners of closely-held businesses, and high-net-worth individuals including complex trust and estate planning.

Joy provides clients with wealth transfer strategy planning to accomplish estate and business succession goals. She also performs tax compliance including gift tax, estate tax, and income tax returns for trusts and estates as well as consulting services related to generation skipping including transfer tax planning, asset protection, life insurance structuring, and post-mortem planning.

Joy presents at numerous events on topics relevant to wealth transfer strategists including engagements for the ABA Real Property, Trust and Estate Law Section; Wealth Management Magazine; the Estate Planning Council of Northern New Jersey; and the Society of Financial Service Professionals. Joy has authored and co-authored articles for the Tax Management Estates, Gifts and Trusts (BNA) Journal; Leimberg Information Services, Inc. (LISI); and Estate Planning Review The CCH Journal, among others, on a variety of topics including wealth transfer strategies, income taxation of trusts and estates, and business succession planning. Joy recently co-authored a book on the new tax reform law entitled Estate Planning: Estate, Tax and Other Planning after the Tax Cuts and Jobs Act of 2017.