Trustee Services Explained

Trustee services are important to making sure your trust is administered correctly. It can be difficult to give up the control of your trust money to an outside company.  The extra trustee fees gives people doubt. Often, individuals will hire friends or family members to serve as trustee for their trust. Sometimes this is a great idea, but sometimes it is not. (more…)

Bank trust company – what is that?

Almost every city has a bank trust company. A bank trust company is a corporation that acts as an agent, fiduciary or trustee. It is a trust company within a bank. Examples of a bank trust company are:  CoAmerica, JP Morgan Trust Company, SunTrust and Frost Trust Company. The term “bank” usually refers to those institutions dealing strictly with deposits, and loans. A trust company is a corporate trustee that can be tied or not tied to a bank and just offers trustee services. (more…)

Do you write your own blog?

Do you write your own blog?  I do.  Why? At my core I am a geek/nerd who loves to learn.  Especially about the why’s and how’s.  Connecting the dots that are not obvious fascinates me.  I always wanted to be a history professor.  The Q&A below acts as a template anyone can ask themselves to start writing interesting blogs.  If someone asks you, do you write your own blog, you can say yes because I enjoy learning and sharing that knowledge. (more…)

Definitive Guide on Trustee Fees

Finding cost efficient trustee fees frustrates many people. Wealthy and affluent people find using trustee services daunting. Why? Nobody understands the process of how corporate trustee fees calculations. Nobody understands exactly what a trustee does. Why? This 700 year old industry never had true external competition. No competition means no motivation for innovation. Until now… This definitive guide on cost efficient trustee fees will pull back the curtains on what corporate trustees do and how they charge their fees. You can use a trust company with trustee fees on your terms.   (more…)

The Secure Act affects your retirement planning

What is the Secure Act?

This year the House of Representatives passed the Setting Every Community Up for Retirement Enhancement Act, known as the Secure Act.  The purpose could help Americans save for retirement, unfortunately, Individual Retirement Accounts, 401(k)s, and Roth IRAs will have their value reduced. Waiting for Senate approval, the Secure Act gives non-spouse beneficiaries 10 years to pay out all the money of an IRA. The effect to beneficiaries – a huge tax hit for distributions. This could place beneficiaries in a higher tax bracket.  (more…)

Advisors in Transition – 3 Easy Tips

Advisors in transition have reached a pain point needing a solution. They want a natural and easy solution to solve that pain point. Examples of those pain points: large wirehouses taking 50% or more of the revenue, stale RIA firms with no succession plan and/or a need for intellectual freedom in this new world. Any advisor in transition starts the search with the internet. The success of any advisor in transition depends on 3 easy tips. (more…)

Advisor friendly trust company top choice – Wealth Advisors Trust

The independent journalists at The Wealth Advisor, the voice of the financial advisor community, has selected Wealth Advisors Trust as one of their top choices for an advisor friendly trust company in 2019.

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How a Bank Trustee understands Millennials

A bank trustee works with clients from the WWII to millennial generations.  They generally each have a unique set of characteristics.  Of course, no generation is uniquely the same.  There are variances based on geographic, social, and economic factors.  What makes millennials a somewhat unique group, at least since the WWII generation, are their lives experienced two special situations.  First the integration of technology in everything we do.   Second the break-up and re-structuring of the geopolitical world order after the Cold War.  Millennials and successor generations, like Gen Z, view the world through different experiences and tools than prior generations.  My aha moment came from reading the Urban Institute report on Millennial Homeownership (see page 22).  A bank trustee that understands millennials will provide them and future generations with innovative and collaborative customer services. (more…)

Definitive Guide on Trust Law, a Trust Fund, & Trustee Industry 2019

Advisors have the option to use a trust fund company that does not compete against them. There will be an avalanche of asset transfers between generations over the next 30 years. This blog provides information on the past, present, and future of trust law and the trustee industry. This information will help advisors to make informed decisions on clients’ generational planning choices, and to attract and retain assets.

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Trust Distribution Requests – Now Digital

Asking for money from a corporate trustee usually becomes an unhappy experience. It does not have to be. Everybody has stories about these situations. These trust distribution requests usually become complicated by corporate trustees. It does not have to happen. Why does it happen? This question goes back 400 years. It starts with a trustee’s job of protecting the trust assets. And stodgy belief that paper only processes always yield better client results than balancing digital and paper. Corporate trustees love paper and all things manual. We decided to push the trust industry into the digital age. (more…)

Recent Post

Trustee Services Explained

Trustee services are important to making sure your trust is administered correctly. It can be difficult to give up the …
Read More

Bank trust company – what is that?

Almost every city has a bank trust company. A bank trust company is a corporation that acts as an agent, …
Read More

Do you write your own blog?

Do you write your own blog?  I do.  Why? At my core I am a geek/nerd who loves to learn.  …
Read More

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