Legal Question in Wills and Trusts in Oregon

Corporate Trustee

I need to chose a ''corporate trustee'' to act as trustee for a trust of which I am beneficiary. What is a corporate trustee? Am I limited to strangers or might someone I know suit this need? What is the criteria to quality?

Thank you for your assistance.


Asked on 4/25/02, 11:23 pm

1 Answer from Attorneys
Susan Burns Law Office of Susan Ford Burns

Re: Corporate Trustee

A corporate trustee is a company who is in the business of being a trustee. Typically a corporate trustee is a bank or trust company. The trustee is not an individual, but a corporation or similar entity.

This means that unless you are already acquainted with a bank trust officer or similar individual, you cannot chose someone you already know.

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Answered on 4/26/02, 5:32 pm


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