Personal Trust Administration
Types of Personal Trusts We Administer:
- Irrevocable and Revocable Personal Trusts
- Asset Protection Trusts
- Credit Shelter Trusts / Bypass Trusts
- Family Trusts
- Incentive Trusts
- Marital Trusts
- Q-tip Trusts
- Residuary Trusts
- Generation Skipping transfer Trusts
- Estate Settlement Trusts
- Dynasty Trusts
- Special Assets Trusts
- Custodial Trusts
- Irrevocable Life Insurance Trusts (ILITs)
- (Existing) Private Annuity Trusts (PATs)
- Court-created Trusts
- IRAs and IRA Conduit Trusts
Areas of Service
We provide these services for Personal Trusts throughout the United States.
Personal Trust Planning and Design Services
Santa Fe Trust offers its expertise at each step of the Personal Trust design, presentation, implementation and administration
process. We address our trust client’s needs by assisting their financial and legal advisors design the type of Personal Trust
that will best meet their trust goals. SFT provides checklists of issues to consider and facts to gather when funding trusts
with complex assets like real estate or closely held stock and works with our trust clients' legal counsel to properly fund a
trust with such assets. We facilitate relationship building among professional advisors who participate in the trust design
and implementation process.
Document Reviews
Trust clients who are considering appointing Santa Fe Trust as a current or successor trustee, co-trustee or administrative agent of
trusts are encouraged to introduce us to the attorneys drafting the trust documents before these documents are finalized. If the
trust is existing, the trust documents must be reviewed by SFT to determine transferability of the trust. Trust documents can
become out-of-date if they are not reviewed periodically due to changing objectives, the addition of new beneficiaries, changes
in domicile, tax law modifications, and so on. Santa Fe Trust can also review older documents with prospective trust client’s
legal counsel. By doing so, SFT can ensure that the language found in the trust document will enable SFT to properly and
efficiently administer the trust when our duties commence.
Disclaimer: SFT engages in this activity for internal risk management purposes only. Any comments or suggestions SFT makes to
counsel are not to be considered legal opinions of any kind and may not be relied upon by any party for any purpose. Attorneys
who are drafting any documents SFT reviews must exercise their own independent legal judgment in accepting or rejecting any
recommendations made. Santa Fe Trust does not draft legal documents, provide legal advice of any kind, or guarantee or endorse
the work of any attorney in any fashion or for any purpose.
Administration of Personal Trusts
Santa Fe Trust has full trust powers and can serve as a sole corporate trustee, co-trustee, directed trustee, independent
special trustee or as a primary trustee’s administrative agent.
As a corporate fiduciary, Santa Fe Trust provides back office administrative support, insulates the grantor from fiduciary liability, carries
E&O insurance coverage, makes all trust distributions to beneficiaries via check, wire or ACH, pays all trust bills, keeps financial
advisors advised concerning upcoming cash needs and communicates with beneficiaries when necessary. SFT interfaces with asset custodians
to obtain current custodial account transaction information, prepare and send periodic statements of account as required by the trust
document and provide all required trust accounting.
In addition, SFT oversees the investment activities of the financial advisors who invest SFT trust client assets and reviews performance
at least annually, values or causes to be valued any “hard to value” trust assets, as needed, hires and oversees the property managers
of trusts holding real estate and oversees the preparation of state and federal tax returns.
Costs associated with these services
There is generally no charge for our preliminary planning, consulting, and document reviewing services, provided SFTs administrative
services are being recommended to the trust client.
SFT charges a fee for initial account set up, tax return preparation and extraordinary services. Our account administration fees are
based on the greater of a percentage of the value of the trust’s assets or our minimum fee per account, charged monthly in
advance. We do not charge an account termination fee.
Please call for the current fee schedule and a personalized fee quote.