Personal Trusts

Account Set Up Procedures


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

  1. If you are in the process of creating a trust, Santa Fe Trust recommends that your attorney talk with us to review the trust document language necessary to provide for our administration before the trust is executed.

  2. If your trust is already in existence, generally it can be transferred to Santa Fe Trust. We will review the trust document along with current or proposed contributions and investments to determine whether the trust can be transferred. If a transfer is possible, we will suggest ways you could proceed. This is generally 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 we have signed acceptance of your trust, we will work with you and your financial advisor to establish the trust's investment guidelines and open accounts in the name of the trust.

  5. All pertinent trust documents, exhibits and agency agreements must then be signed.

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

  7. After acceptance by SFT, your financial advisor will begin to invest trust assets in accordance with the provisions of the trust document.

  8. Santa Fe Trust receives trust investment information from the custodian, provides trust accounting and produces and mails 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.