The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-11-20
THE TRUST COMPANY As Co-EX-
Ecu TOR,

The great value of a trust cOmpany
10 us community rests not only Ia the
VIDE range or the service il renders but
also IN its adapta bility to all condi-
lions. An excellent illustration of this
Is 10 be found in the practice which
is constantly growing in public favor of
naming d trust company as cO-eNecutOr
I'd carry out the provisions of a Will.
Occasions frequently arise when a
testator wishes 10 leave the administra-
tlon or MS affairs TO a trust company.
Vel, owing 10 certain circumstances in
the case or for private reasons of his
own. ne desires that some friend or
relation shall have an active mart in
overseeing the disposition of his prop
SrlS- rms very desirable arrangement
can easily be effected, as a trust COM
| pany VIII readily act as co-executor.
WORKING IN thorough accord ard COOP
Grafton with the individual appointed.
II Is obvious that there are many
advantages in having the services of a
Wei equipped trust company as cock
ecutof. such an arrangement provides
a guarantee against the Vicissitudes of
lndlN ldual life or individual judgment.
Inc company service is always avail
able and its investments and recommen-
cations In its capacity as cO-executor
are made only as a result of careful
consideration by committee of its ex-
I ocitS. HE combined pru ience of all is
certain To afford a check upon the i'm
prudence or lack Ct proper knowledge
of the Individual.
a Ease IN point was recently noted
IN Cleveland where two brothers died
within comparatively short time Of
each other Both We're married men
and left considerable property. The
estate Of one was left BY viii 10 be ad-
lnlnlsLere0 by a brOther-in-laW with Il
large trust company as cO-eXecutOr
while the other brother had named his
business partner as sole executor. For
the LrsJ few months matters went on
Withou- cause Tor comment in either
case. Later, however, the income from
the estate being administered BY the
single executor began 10 fall off ma
terially The widow, knowing little or
nothing OF Isiness, was easily com
WINGED by the partner Of her deceased
husband thar the falling Oft was only
temporary. Nevertheless matters
dragged along from bad 10 worse until
the CarelesSnesS 70 use no stronger ey-
preston. Of the executor was too an
parent 10 be overlooked and the es-
tate is now involved in costly and COM
plicated litigation. The estate OF the
other brother, though originally Of no
greater value. is now returning a much
larger and a steadily Increasing income
while IN the other case the entire es-
tate is in condition of confusion
The lesson of such a disaster is the
folly of trusting the administration of
funds 10 the sole care of an individual
when corporations exist especially or
ganized and equipped for such duties.
Moreover the moderate fees charged
FOR services are far more than cOun-
Jerbalanced in actual cash gained
through the saving OF all waste and the
ability 90 make the most Of every Op-
portunity.
The appreciation of the value of a
trust company as cO-e2ecutOT Is becOm-
ing more widespread and il is safe 10
say, that as A better understanding of
this important subject spreads there
viii be fewer cases OF money lost and
estates depleted through incompetent or
fraudulent Individual executors.
The Salt Lake Security 4 Trust com
pany has acted in the ca pacity of both
executor and cO-eNecutOr Of estates in
many instances. and has saved many
thousands of dollars 10 the heirs by rea-
son of the prOmptness, facility and
economy with which it has transacted
this important business.