Barron’s discusses directed trusts. Its’ article begins as follows:
For the wealthiest families, the old trust model of electing just a trustee and investment advisor is so passé. Well-heeled folks are slicing and dicing traditional trustee duties into many different functions, selecting specialist experts and family members to fill as many different roles as needed in what are called “directed trusts.”
But watch out. These complicated trust structures can come at a cost. Plus, states all have their own rules about how to deal with trusts that employ multiple advisors. So, before electing a gaggle of co-advisors, it’s important to do a state-by-state evaluation to avoid a costly tax bill.
Read full article at Navigating Complicated “Directed Trusts” – Penta Daily – Barrons.com.