Trust Corporations
Rather than have individuals named as trustees sometimes people choose to instruct trust Corporations mainly for the obvious reason a company cannot die.
Other Advantages of trust Corporations
A trust corporation may have a greater degree of professional expertise. This may be important if it is necessary to run a large or complicated trust where investment and taxation advice is required.
Disadvantages of a trust Corporation
Firstly, they will not know the settlor as intimately unlike a specific nominated individual, say a spouse or brother, so they may be second guessing their wishes.
The trust corporation will charge for its services and the scale of charges may not make it worthwhile for a relatively small and simple trust. For illustrative purposes it is typical for a trust corporation to charge a percentage fee every time capital is disbursed.
