3 Ways to Maintain More Control Over Your Trust

Trusts are something that come up pretty regularly in financial planning—especially for families that have acquired a good amount of wealth over the years. There are a lot of different financial or personal reasons for setting up a trust, and they can have a lot of valuable benefits. But there can be risks with trusts too.

In almost all cases, the grantor sets up the rules of the trust and establishes a trustee (or trustees) who will manage the various accounts or other assets that are to be owned by the trust. In some instances, having someone else in charge of what happens with a large amount of money can lead to problems or disputes. That’s why it makes sense to take steps now to ensure your trust will be used to achieve your vision and goals as closely to how you are able to see these at the time the trust is created.

It all starts with thinking about your trust as a very valuable asset you want to preserve, and exerting your power, responsibility, and management to protect its value. The accompanying resource details three options you may have for taking more control of your trust. They include:

  1. Retaining the power to remove a trustee
  2. Appointing yourself as a non-independent trustee
  3. Having an institutional trustee instead of individual trustees

Depending on your specific situation, these options may help you feel more comfortable with your trust and provide much-needed peace of mind


The material contained herein is for informational purposes only and is not intended to provide specific advice or recommendations for any individual nor does it take into account the particular investment objectives, financial situation or needs of individual investors. Any tax advice contained herein is of a general nature and is not intended for public dissemination. Further, you should seek specific tax advice from your tax professional before pursuing any idea contemplated herein. This advice is being provided solely as an incidental service to our business as insurance professionals and investment advisors.

Neither Wealth Impact Partners, Valmark Securities nor its affiliates and/or its employees/agents/registered representatives offer legal or tax advice. Please seek independent advice, specific to your situation, from a qualified legal/tax professional.

Securities offered through Valmark Securities, Inc. Member FINRA/SIPC. Investment advisory services offered through Valmark Advisers, Inc., a SEC Registered Investment Advisor. 130 Springside Drive, Suite 300 Akron, Ohio 44333. (800) 765-5201. Wealth Impact Partners is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc. BSW Inner Circle and AES Nation LLC are separate entities from Valmark Securities and Valmark Advisors.

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