Patricia M. Annino Co-authors Article in Wealth Strategies Journal

With the Continuous Collapse of Major Financial Institutions, Should a Trusted Advisor Become a Trustee?
March 23, 2009

At a time when so many major financial institutions seem to be failing or on the verge of collapse, many high net worth families and/or business owners are left to wonder who can best serve families and businesses as trustees--financial institutions or trusted advisors?

In many cases, the relationship between a financial institution and a high net worth family has been established for decades. The financial institution lends money to both businesses and individuals, serves as trustee and provides wealth counsel. Despite the uncertainty about what the future holds, a family needs to make decisions as to how its wealth will be handled and who should take on the trustee/fiduciary role at death. A key family member may rethink whether or not the trusted family advisor--the lawyer, accountant or chief financial officer.--should now be the trustee.

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