Charitable Trusts

Account Set Up Procedures


The following are recommended procedures to establish a new Charitable Trust account relationship with Santa Fe Trust:

  1. If you are in the process of creating a Charitable Trust, we recommend that the drafting attorney talk with us to review the trust document language necessary to provide for our administration before the trust is executed.

  2. If the trust is already in existence, we will review the trust document as well as current or proposed contributions and investments to determine if the trust can be transferred to us. If a transfer is possible, we will suggest ways you could proceed. This is typically a two week process.

  3. Depending on the type of investment or securities licenses your financial advisor holds, they may need to be licensed in the State of New Mexico to act as the financial advisor to the trust. Your financial advisor should contact their licensing department and visit the Regulations and Licensing Department (RLD) of the State of New Mexico's Web Site or call them at (505) 827-7140 to determine any need for New Mexico licensing.

  4. When the trusteeship has been established, we will work with you and your financial advisor to establish the trustís investment guidelines and open accounts in the name of the trust.

  5. We as the Trustee, you as the trust client and your qualified financial advisor must each sign the necessary trust documents and agency agreements. When we have signed acceptance of your trust, we will work with you and your financial advisor to establish the trustís investment guidelines and open accounts in the name of the trust.

  6. A new trust must be properly funded as set forth in the trust documents. An existing trustís assets must transferred to the new trust account(s) with us.

  7. Your financial advisor will begin to invest trust assets in accordance with the terms of the trust document and the agreed investment guidelines.

  8. We receive trust investment information from the custodian, provide trust accounting and produce and mail periodic trust account statements directly to the entitled beneficiaries. The consolidated trust account statements we prepare reflect all investment and other activity in the trust account. You may also request a supplemental copy of the individual custodial account statements from your financial advisor.

  9. We hold periodic meetings with the financial advisor and you to review the trustís investment performance and assure adherence to the provisions of the trust document and the agreed investment guidelines.