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If the trust provides for the sale of assets, as opposed to distribution of the assets to a qualified family member to continue the business, the owner should consider naming, as successor trustee with respect to the assets, a trusted adviser who is capable of having the assets valued and sold with the least disruption to the business.
The trustee would have to be a trusted friend or adviser who is a licensee, such as a co-owner of the business, and the trust would give the trustee discretion to distribute the interest to the family member when the trustee believes that he or she is responsible enough to handle the ownership interest prudently.
Or, they can designate a trusted friend or other family member.
The decision currently produces a tax incentive to use corporate trustees over individual trustees (who may be trusted friends of the grantor or decedent, but lack investment experience).
We must make sound judgments about trusting others and make efforts to be trusted. We are faced daily with creating "on-the-spot" agreements and relationships with coworkers, leaders, customers and other organizations.
The decedent named a trusted employee to whom he had made favorable loans in the past as beneficiary of any shares not redeemed by the corporation at his death.