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Real Estate Trustee
Independent trustees are law firms, individuals, or financial institutions who take the fiduciary responsibilities and personal liabilities of managing a trust. An Independent trustee is not related to the grantor or beneficiary of the trust and does not stand to inherit or benefit in any way under the trust, except for the management fee. Independent trustees are preferred when family members or corporate directors are likely to disagree over management of the trust. However, for small, uncomplex family estates, independent trustee's fees can be higher than those charged by a family member, who is willing to assume the personal liability of being a trustee.