The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-11-20
THE TRUST COMPANY
AS C0-EXECUT0R

The great value OF trust company
to It's community rests not only in the
wide range of the services it renders,
but also in its adaptability to all condi-
tions. An excellent illustration Of this
is to be found in the practice of which
is constantly growing in public favor
Of naming n trust company as cock
ccutor to carry out the provisions of g
will.
Occasions frequently arise when a tes~
tator wishes to leave the administration
Of his affairs TO trust company yet,
owing to certain circumstances in the
case or for private reasons of his own,
he desires that some close friend or re-
latjon shall have an active part IN
overseeing the disposition Of his prop
erty, This very desirable arrangement
can easily be effected, as trust com
pany will readily act as co.eXecutor,
working in thorough accord md cooper
alton with the individual appointed.
il is obvious that there are many ad-
vantages in having the services Of a
well equipped trust company as cock
ecutor. Such an arrangement provides
guarantee against the vicissitudcs Of
individual Ilfo or individual Judgment.
The company's service is always avail
able and its investments and recon-
mcndations in its capacity ae co-execu-
tor are made only as result Of careful
consideration by committee of its e1-
perts. The combined prudence of all IS
certain to afford check upon the i'm
prudence or lack of proper knowledge
Of the individual.
A case in point was recently noted
in Cleveland, where two brothers died
within a comparatively short time OF
each other. Both were married men
and left considerable property. The
estate Of one was left by will to be
1 l. To- /,
large trust company as coeXecutor,
while tho other brother had named his
business partner AS sole executor, For
the first few months matters went on
without cause for comment in either
case Later, however, the income from
the estate being administered by the
single executor began to fall off mate
rally, The widow, knowing little or
nothing OF business, was easily con.
vinced by the partner of her deceased
husband that the falling off WAS only
temporary. Nevertheless matters
dragged along from bad to worse until
the carelesSness, to use no stronger ex-
preston, of the executor was too aDpar-
ent to be overlooked aud the estate is
now involved in costly and complicated
litigation. The estate of the other
brother. though originally of no greater
value, is now returning much larger
"a
in the other case the entire estate IS In
condition of confusion.
The lesson of such disaster is the
folly of trusting the administration Of
funds to 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 counter
balanced in actual cash gained through
the saving of all waste aud the ability
to make tho most of every opportunity
The appreciation Of the value of a
trust company as co.eIecutor is becom-
ing more widespread and it is safe to
say that as a better understanding Of
this important subject spreads there
will be fewer and fewer cases Of money
lost and estates depleted through IN
competent or fraudulent individual ex-
ecutors.
The Salt Lake Security and Trust
Co. has acted in the capacity Of both
executor and co-executor of estates in
many instances, and has saved many
thousands Of dollars to the heirs by rea:
son of the promptness, facility and
economy with which it has transacted
this important business