Working With a Professional Personal Representative or Trustee

Brenda Tudor, Trust Officer at Peak Trust Company, has worked in the financial services industry for over 30 years, serving 17 of those years as a trust officer. Brenda’s extensive experience has allowed her to play an integral part in creating personal estate planning strategies for many clients. Brenda is passionate about helping both the trustee and their beneficiaries satisfy their needs. Brenda currently serves on the board of the Anchorage Estate Planning Council and holds a position as the Vice Chair of Anchorage Senior Activity Center Endowment Trust Board of Trustees. When you are putting together an estate plan, will, or trust, one of the most important decisions is to pick who you want to be the personal representative. According to Brenda, there are many reasons why it may be best to leave this role to a third party. Brenda and her colleagues at Peak Trust are well educated and prepared to handle any aspect of the trust process. Their main goal is to create a good standing relationship with everyone involved, something family members are often not equipped to do. Whether it be their spouse, children, grandchildren, or even a charitable organization, Brenda explains that a trust can be the perfect vehicle for people to leave behind their legacy. Tune into this week’s episode of the What’s Next podcast to learn more about the types of trusts, the role of a trust officer, and how you can use a trust to help your loved ones even after you’ve passed on. Quotes: • “Understanding our client’s intent when they're drafting documents is important to us because that knowledge can't be obtained once they've passed.” (11:03-11:13) • “We don't like to say no, as long as it falls within the perimeter of the trust document. We like to work with the beneficiaries to make sure that they can gain a good education and can be successful out in society once they've graduated.’ (18:12-18:24) • “Something I take pride in is getting to know my beneficiaries to be able to help them in the best manner I can, and serve them the best way that I can under the parameters of the document.” (21:31-21:40) • “Some beneficiaries do not understand the fact that it's not their money, it's money that is put there for their benefit.” (33:44-33:51) • “There's a lot of thought that goes into putting a trust together, and a lot of people don't fully understand how trusts can be used as a great estate vehicle for their family members down the road.” (36:53-37:05) Links: https://www.peaktrust.com/ For all of Liz Smith’s resources give her a like on Facebook: https://www.facebook.com/lizsmithlaw Podcast production and show notes provided by HiveCast.fm