Being a good steward is hard work! You have gone through the thought process of deciding you need a revocable trust to manage your financial affairs, while you are living, and to direct after your departure to heaven.
One of the most important decisions you will make is who will serve as your trustee when you no longer are able or are no longer living.
MBF believes there are good reasons to choose a corporate trustee over a trusted friend or family member.
Serving as a Trustee:
1. Requires varying degrees of time, skill, and effort.
2. Requires the ability to be readily available to serve without notice in the case of incapacity or death.
3. Requires prudence in the management and disposition of assets.
Reasons why an individual may not be the best choice:
1. It may seem like a good idea at the time but one never knows when trustee services will be needed, often, in the case of an adult child, it comes a time of grieving and may be a burden.
2. Most individuals do not understand the full potential and complexity of what they have agreed to and often find themselves overwhelmed with the responsibility.
3. Skills and knowledge beyond the ordinary person are required.
Reasons why the Missouri Baptist Foundation as a corporate trustee is a good decision:
1. Missouri Baptist Foundation will not die, so there is no need to name an alternate successor trustee.
2. Missouri Baptist Foundation maintains professional staff who have the skills, knowledge, tools, and resources to carry out the required fiduciary responsibility.
3. Missouri Baptist Foundation staff recognize the sacred responsibility it is to be named to serve as a successor trustee and will maintain loyalty to you as Grantor and your named beneficiaries.
4. Missouri Baptist Foundation can continue to serve as trustee and administer for special needs adult children allowing other siblings to focus on care and relationship, rather than finances.
5. Missouri Baptist Foundation maintains professional liability insurance and has a relationship with investment platforms, at lower fees, than individuals can secure.
Our commitment to you is grounded in our calling to partner with you to care for family, ministry, and to ultimately Advance the Gospel.