• Pay Bills

  • The trustee could be in the position of running an ongoing business, overseeing rental property, or in performing the role of paying for insurance once a year in an Irrevocable Life Insurance Trust (ILIT). There is no standard of the amount and frequency of bills that need to be paid for a trust. However, in each situation, the trustee must put in place a submission, approval, and payment process that makes sure the correct amount gets paid timely. With the extra layer of oversight that the trustee provides, it can often add days or weeks to processing of timely payment. In cases where the trustee lives and works out of town, the delays can result in penalties, interest, or cancellation of services. Greg Honegger is local to Bakersfield, and has invested in technology to assist the beneficiaries and trustee of timely payment. In addition to Cloud access of files, a firewall to provide secure internet, and old fashioned filing cabinets, the office is set-up to facilitate the timely and secure paying of bills for the trust.