Trust Fund Industry Roadmap for Advisors

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 article provides information on the past, present, and future of trust law and the trust fund industry. This information will help advisors to make informed decisions on clients’ generational planning choices, and to attract and retain assets.

(more…)

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…)

Directed Trusts : The Ins and Outs

Directed trusts separates who manages the trust assets and who administers the trust assets.  This rule gives everyone loads of flexibility for anyone using a trust under South Dakota trust laws.  It allows a person to place her property—both investment and business assets—in trust for heirs as income producing property. This process involves directing the control of the management of trust assets to third party such as a financial advisor, family member or family office but not the corporate trustee. A South Dakota Directed Trust is unique because it allows a ‘donor’ (trust geek speak – grantor) to use a decide who will manage, preserve, enhance, and accrue value for all sorts of property placed in a trust.  These assets can include more than stocks, bonds, mutual funds—ranches, mom and pop shops, apartment complexes, valuable artwork, or even jewelry.

South Dakota’s Directed Trust laws allow grantors to split-up the fiduciary responsibilities and duties that normally tag along with financial investments.  A complex situation traditional and unique assets would have a financial advisor managing/overseeing the marketable securities and a hospitality specialist to manage the day-to-day operations of your fast food franchises.  The corporate trustee would only focus on the trust accounting and administration. This also typically results in lower fees because the primary wealth advisor and all parties involved are responsible for fewer burdens.

(more…)

Last Will & Testament

Last Will & Testament

A few days ago, I finished reviewing and approving my third Will & Testament.  I have revised my Will three times – at 25, 42 and 50.  Just part of the normal process we all need to go through.  We all have the same worries about taking care of our family.  Reviewing a Will also means reading related documents.  I have a few partnerships and trusts plus my medical and financial Power of Attorney forms.  Creating these documents occurred at different times.  Finally, all of these documents have to be in sync.  211 pages.  Ugh!  However, the review focus of a Will & Testament plus related documents hinges on more than tax and legal stuff.  We all need to consider our assets, philosophy of our money and our family.  Not easy.

As a co-founder of Wealth Advisors Trust Company, I hold myself accountable to the best estate planning practices.  We all learn by sharing processes, successes, and failures.

 

(more…)

Ease Family Worries: Preparing Your Trust Administration Handbook

Preparing a Trust Administration Handbook for guidance as to the efficient handling of tax issues and long-term goals of the grantor can be the difference between financial success or destitution.

(more…)

Deciding Trust Distribution: Goals, Priorities & Purpose

Thinking ahead about the type and quantity of a trust distribution your trustee will disburse to your beneficiaries is the first important step. Having some plan is better than having no plan, and heavy tax burdens and lackluster heirs further complicate the game plan.

(more…)

Trusteed IRA SmartIRA

Trusteed IRA – A quiet and powerful Client solution

A Trusteed IRA is a simple and powerful financial planning tool.  To know the power of the Trusteed IRA it’s important to describe the IRA industry for all of us.  The IRA market has grown substantially over recent years as the baby boomer generation prepares for retirement. With nearly 40.4% of all American households investing in at least one IRA, total IRA assets topped $8.5 trillion in the third quarter of 2017.[1] This amount represents more than a 30% of the total $27.2 trillion retirement market in the United States and has grown at an average rate of 7.4% percent annually since 1990.[2].   The IRS has accepted our Trusteed IRA solution which is called the SmartIRA™.

(more…)

Directed Trusts Made Simple

Most financial advisors, and clients are well aware of what directed trusts can do for them (e.g. provide flexibility on management of trust assets).  There is allot of ‘noise’ about directed trusts and explaining the hows, whys, why nots etc. is important for all to be educated about.

The critical thing to keep in mind is that the trust industry is undergoing a quiet revolution that has wrested control of trust accounts away from traditional trustees—primarily in the banks and other large institutions—and back into the hands of independent trust companies, advisors and most importantly clients.

(more…)

Agency trustee services – client focused

Creating a trust requires people to surrender control of that wealth to someone else. For those who worked hard for the money or simply withstood the temptation to spend every dollar, handing the assets over to the trustee represents a tremendous leap of faith.  Agency trustee services solves that problem.

(more…)

Recent Post

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 …
Read 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 …
Read More

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 …
Read More

Loading...

Pin It on Pinterest