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.