Here is the standard language you would need to
complete various forms and documents if you are appointing Plante Moran
Trust as a trustee (either with or without investment responsibility) or
if you or your attorney are working with Plante Moran Trust in any
- Appointing Plante Moran Trust (with or without investment responsibility)
- Provision for the settlor’s business interests
- Trusted advisor language
Appointing Plante Moran Trust
Plante Moran Trust is pleased to be named as your personal representative, trustee, successor trustee , or co-trustee.
Officially, your Will or Codicil should read as follows:
"I hereby name, nominate and appoint as Personal Representative under this, my Last Will and Testament, PLANTE MORAN TRUST, a Michigan corporation, or its successor(s)."
Officially, your trust agreement or amendment should read as follows:
"The Trustee of the trusts created hereunder shall be PLANTE MORAN TRUST, a Michigan corporation, or its successor(s)."
If Plante Moran Trust is to serve as trustee with investment responsibility:
Plante Moran Trust is able to provide a full complement of trust and asset advisory services when engaged as Trustee or Co-Trustee with full investment management authority. Investment advisory services to the Trust are provided by our affiliate, Plante Moran Financial Advisors, an SEC registered investment advisor. Our published fee schedule includes these advisory services, and no separate fees for this service are assessed.
Please ask your attorney to include the following paragraph in your trust agreement:
Power to Engage Affiliated Agents
"Notwithstanding anything to the contrary under the law of trusts or similar laws pertaining to trust administration, fiduciary, and other similar type duties, the Trustee is empowered to engage attorneys, investment advisors, accountants, and other agents, even if the same are affiliated with the Trustee. The hiring of such services from entities affiliated with the Trustee shall not be a direct or indirect violation of fiduciary or investment responsibility of the Trustee in the administration of the trust, nor shall the same be considered to be a conflict of interest."
Appointing Plante Moran Trust without investment responsibility
Plante Moran Trust is pleased to be named as your personal representative, trustee, successor trustee, or co-trustee.
Officially, your trust agreement or amendment should read as follows:
“The Trustee of the trusts created hereunder shall be PLANTE MORAN TRUST, a Michigan corporation, or its successor(s).”
Designation of a specific investment advisor to the trustee
If you wish to designate a specific investment advisor for your trust, your attorney can add some provisions to your trust agreement to accomplish this objective. We offer the attached language for consideration by your legal counsel.
Power to control investment activities
__.__ Designation of Investment Manager [and Investment Adviser Representative]. Settlor may appoint and remove from time to time an investment manager [and its investment adviser representative]. During Settlor’s disability or after Settlor’s death, this power to appoint and remove is vested in a majority of the current income beneficiaries in the nearest generation to Settlor who are competent adults [or if none, a majority of those who would be beneficiaries if the trust then terminated and who are competent to act]. The appointment of an investment manager may pertain to part or all of the assets of any trust established under this Agreement.
(a) Selection. [Commencing at Settlor’s death,] ________________ [insert name of corporately registered investment adviser entity], if willing to serve, is designated as the investment manager with respect to [each trust/the (name of trust(s)] established under this Agreement. [________________ [insert name of an individual investment adviser representative], if willing to serve, is designated as the investment manager’s investment adviser representative to exercise all of the powers and authority granted to the investment adviser under this Agreement. [The investment adviser representative may be changed from time to time by the investment manager upon written notice to Trustee and the persons then authorized to appoint or remove an investment manager] OR [The investment adviser representative may be changed by the investment manager only upon prior written approval of the persons then authorized to appoint or remove an investment manager and an investment adviser representative]. Written notice of appointment or removal of an investment manager [or investment adviser representative] shall be provided to Trustee. The investment manager [and investment adviser representative] must provide to Trustee and to the persons then authorized to appoint or remove an investment manager [and an investment adviser representative] a written acceptance of the position and of the responsibilities described in this Agreement. The responsibility for proper evaluation, selection, and removal of an investment manager [and an investment adviser representative] belongs solely to the persons then authorized to appoint or remove such person[s].
(b) Investment Manager’s Qualification. A condition to serving as investment manager is that (i) the investment advisory firm must be registered at all times as an “investment adviser” under either the Investment Advisers Act of 1940, as amended, or applicable state securities laws; and (ii) at least  percent of the firm’s services must constitute “investment supervisory services” as disclosed by the investment manager in response to Form ADV (or related regulations) as promulgated by the Securities and Exchange Commission or, as applicable, a state securities regulator.
(c) Investment Manager’s Responsibilities. The investment manager must formulate and submit to Trustee and to those who are recipients of annual accounts a written investment policy statement that takes into account the purposes, terms, distribution requirements, and other relevant circumstances of the trust(s) affected by the appointment. After the investment policy statement is approved by Trustee, the investment manager has sole responsibility for implementing the investment policy. Trustee shall follow the written directions of the investment manager regarding implementation of the investment policy. Trustee has no duty to (i) participate in, review, or monitor the activities and decisions of the investment manager, (ii) propose, consider or require changes in the investment policy, or (iii) inform or warn trust beneficiaries (even in an annual statement of account) of any information that Trustee knows or should know that might establish or prevent a breach of trust or a violation of a duty by the investment manager. The investment manager is authorized and has exclusive responsibility to exercise all powers of Trustee regarding retention, purchase, sale, reinvestment, or encumbrance of trust assets that are reasonably necessary to accomplish the investment policy.
(d) Advisory Fees. If the investment manager desires to bill and collect its advisory fees and expenses for services rendered directly from the trust’s assets, the investment manager shall provide Trustee for each billing period a detailed calculation of the advisory fees and expenses due showing the method of calculation and the values upon which those fees are based. In doing so, the investment manager shall comply with all applicable laws, regulations, and rules. The investment manager will be responsible for the accuracy of its billings, and Trustee may rely upon those billings in remitting payments.
(e) Statements. The investment manager shall provide quarterly or more frequent statements to Trustee that reflect all investment activities of the managed assets. Annually and upon termination of a trust or the removal or resignation of the investment manager, the investment manager shall provide a statement to Trustee showing the investment manager’s transactions during the full or partial year, the investment performance of the managed assets during that period, an inventory of the managed assets at the end of that period with cost and market values indicated, and the total amount of its fees and expenses billed and collected from each trust during that period.
(f) Inspection of Records. The books and records of the investment manager relating to the investment activities of the trust(s) affected by the appointment shall be open at all reasonable times to inspection by Trustee and the persons then authorized to appoint or remove the investment manager.
(g) Exoneration. Trustee shall not be liable for (i) any loss, damage or expense attributable to the evaluation, selection or removal of an investment manager, (ii) any loss, diminution in value, damage, or expense arising directly or indirectly from an investment manager’s exercise or non-exercise of any authority over trust assets or from following the investment manager’s directions, (iii) failing to inform or warn trust beneficiaries (even in an annual statement of account) of any information that Trustee knows or should know that might establish or prevent a breach of trust or a violation of a duty by the investment manager, or (iv) errors in the investment manager’s billings for its investment advisory fees and expenses.
Provision for the settlor’s business interests
ZZZ shall act as the Special Trustee hereunder for the sole purpose of exercising any and all discretion relating to the operation, conduct, management, liquidation, sale, incorporation, capitalization, and all other matters in connection with any interest in [ZZZ] [any business, corporate or otherwise, in which the Settlor, directly or indirectly, holds the largest voting interest of any persons holding an interest in such business, or holds a significant (as determined by the Trustee) voting interest in such business,] [any business or businesses, corporate or otherwise, engaged directly or indirectly in ZZZ] if such business interest is owned by the Settlor or held by the Trustee as part of the trust estate at the time of the Settlor’s death.
For such purposes, the Special Trustee shall have the sole power and authority, in addition to the powers set forth herein or otherwise conferred by law: to determine whether such business interest shall be retained as part of the trust estate after the Settlor’s death, and, if so, for what period of time; to participate in the management of such business and to receive such compensation for such participation as may be reasonable; to engage, compensate or discharge such managers, agents, employees, attorneys, directors, accountants, consultants or other representatives as the Special Trustee may determine, including the engagement, compensation or discharge of any beneficiary or Trustee or of any employee of a beneficiary or of a Trustee, even if the same are affiliated with the Trustee or Special Trustee; to vote any and all shares of stock in such business held as part of the trust estate; to expand, limit, alter, incorporate, or reorganize such business in any way the Special Trustee deems advisable; to invest in, lend to, or guarantee the obligations of such business and to use as collateral for loans to, or guaranties for, such business, any other assets of any trusts hereunder; to sell all or any part of such business interest at such times and prices and upon such terms and conditions (including sales to any beneficiary or Trustee, or any employee of a beneficiary or of a Trustee, or to any corporation directly or indirectly controlled by any beneficiary or Trustee) as the Special Trustee determines; and, in all cases, to exercise any and all powers and authority with respect to such business interest that the Settlor could have exercised if then living.
Any Special Trustee may resign upon at least thirty (30) days prior written notice to the then acting Trustee, or if there is no then acting Trustee, then to the person or persons designated to appoint a successor Trustee. Any individual Special Trustee who becomes incapacitated shall be deemed to have resigned until such time as such incapacity shall have ceased. In addition, the then acting Trustee may remove any Special Trustee upon at least thirty (30) days prior written notice to such Special Trustee, and may at any time appoint any one or more individuals or a corporation with trust powers to act in place of such former Special Trustee. In the event any Special Trustee, whether an original or a successor Special Trustee, shall die, become incapacitated or otherwise cease to act as a Special Trustee, and there is no successor Special Trustee designated, then the other persons who are then acting as the Trustee under this Trust Agreement may either (i) exercise the foregoing power and authority as if there were no Special Trustee hereunder, in such manner as the Trustee determines to be in the best interest of the beneficiaries and the trusts hereunder, or (ii) appoint one or more individuals or a corporation with trust powers to act in place of such former Special Trustee.
The Special Trustee shall exercise the power and authority granted herein in a fiduciary capacity; provided, however, that neither the Special Trustee nor any other Trustee shall at any time be held liable for any loss resulting from the retention and operation of such business interest, regardless of any potential conflict of interest with respect thereto, unless such loss results directly from the Special Trustee’s or the other Trustee’s willful misconduct or fraud. In determining any question of liability for losses, it should be considered that such business interest is being retained at Settlor’s express request. During such time as the Special Trustee is acting hereunder, no other Trustee, other than the Special Trustee, shall be liable for any loss resulting from the retention and operation of such business interest. Upon the liquidation, sale or other distribution of the business described herein from the trust estate, the Special Trustee shall cease to act as a Special Trustee, and shall be discharged of all further duties and obligations hereunder.
 Insert name of Special Trustee.
 Insert name of specific corporation here if you want to reference the Settlor’s business by name, and then delete language between next two sets of brackets.
 Include language in this set of brackets if you want to allow any business to be handled by the Special Trustee, and then delete language from brackets before and after this language.
 Include language in this set of brackets if you want to reference the type of business, and then delete language from the two preceding sets of brackets.
Trusted advisor language
Guidance given by the Trusted Advisor is advisory only and Trustee may, but is not required to, act in accordance with any suggestion or suggestions made by such Trusted Advisor.