The following are the 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 SFT to review the trust document language necessary to implement our administrative processes before the trust is executed.
2. If your trust is already in existence, generally it can be transferred to Santa Fe Trust. Santa Fe Trust 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, Santa Fe Trust will advise you how to proceed. This is typically a two week process.
3. Depending on what 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 the RLD at (505) 827-7140 to determine if they need to be licensed in New Mexico.
4. When the trusteeship has been established, Santa Fe Trust 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 be signed.
6. The trust must be properly funded (if new) or its assets transferred to the new trust account(s) with us (if pre-existing).
7. After acceptance by SFT, your financial advisor will begin to invest trust assets in accordance with the provisions of the trust document.
8. SFT 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.
9. Santa Fe Trust will hold periodic meetings with the financial advisor and the trust client to review the trust’s investment performance and assure adherence to the provisions set forth in the trust document.

The following are the procedures to establish a new Irrevocable Life Insurance Trust account relationship with Santa Fe Trust:

1. For new ILITs to be administered by Santa Fe Trust, your Insurance Advisor should arrange for a medical examination to determine your insurability before the trust document is drafted. Any preliminary application you sign should be signed in your capacity as the insured and not as the prospective owner.
2. Assuming insurability exists, Santa Fe Trust will review the specifics of the trust document and the proposed insurance policy or policies with your drafting attorney. This is typically a two week process.
3. If your ILIT is already in existence and currently being administered by another trustee, Santa Fe Trust must review the trust document and all current or proposed trust-owned life insurance policies to determine whether the trust can be transferred to and administered by SFT. If a transfer is possible and agreeable, Santa Fe Trust will advise you how to proceed. Typically, this is a two-week process.
4. The final trust document must be executed by you and forwarded to SFT by the Insurance Advisor. SFT will then apply for a tax identification number and notify the Insurance Advisor. The Insurance Advisor must then complete and submit to Santa Fe Trust an ILIT Administrative Review Checklist disclosing all personal information necessary to establish a trust account.
5. Santa Fe Trust will set up the new account, including a trust-specific working capital account at our bank.
6. The insurance application must be signed by the insured as the insured and not as the prospective owner and sent to Santa Fe Trust for review and signature as its owner. We will submit the signed application to the Insurance Advisor for submission to the insurer.
7. Santa Fe Trust will notify you in writing to make the initial cash gift to the trust plus pay the account set-up and first year trust administration fees.
8. Thereafter, SFT will commence administration duties and generate any required gift notices (Crummey letters) to the beneficiaries in a timely manner.
9. After the required waiting period (IRS-required 30-day waiting period or that required by the trust document, whichever is longer) from the date Crummey letters are sent, SFT will pay the policy premiums.
10. Santa Fe Trust will then send confirmation letters to all appropriate parties.

The following are the 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 contact our Charitable Trust Division to review the trust document language necessary to implement our administrative processes before the trust is executed.
2. If the trust is already in existence, Santa Fe Trust must review the trust document as well as current or proposed contributions and investments to determine whether the trust can be transferred to us. If a transfer is possible, Santa Fe Trust will advise you how to proceed. This is typically a two week process.
3. Depending on what 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 the RLD at (505) 827-7140 to determine if they need to be licensed in New Mexico.
4. When the trusteeship has been established, Santa Fe Trust 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. Santa Fe Trust (the Trustee), the trust client (or trustmaker) and the designated financial advisor must sign all pertinent trust documents and agency agreements.
6. The trust must be properly funded (if new) or its assets transferred to the new trust account(s) with us (if pre-existing).
7. Your financial advisor will begin to invest trust assets in accordance with the provisions of the trust document.
8. SFT 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.
9. Santa Fe Trust will hold periodic meetings with the financial advisor and the trust client to review the trust’s investment performance and assure adherence to the provisions set forth in the trust document.