When Hightower Trust Company serves as trustee, we have the fiduciary duty to administer your trust in the best interest of all trust beneficiaries, providing objective and impartial decision-making regarding trust assets and distributions to trust beneficiaries.
When Hightower Trust Company serves as corporate trustee, we are charged with the fiduciary administrative and tax duties of trustee and the fiduciary responsibility to manage and prudently invest the trust’s assets. In most cases, investment management will be delegated to your advisor, and Hightower Trust Company will provide fiduciary oversight to ensure the investment management aligns with the objectives of your trust.
When Hightower Trust Company serves as directed trustee, we are charged with the fiduciary administrative and tax duties of trustee, but the terms of your trust direct that your advisor assumes full fiduciary responsibility for investment management of trust assets.
When Hightower Trust Company serves as co-trustee, whether we are serving as corporate trustee or as directed trustee, Hightower Trust Company shares discretionary distribution decision-making with an individual co-trustee but retains full authority over the other functions of a corporate or directed trustee.
When Hightower Trust Company is designated in your trust as successor trustee, Hightower performs no current services, but we are positioned to step in as trustee when you or the current trustee are no longer willing or able to serve as trustee.