Family Trust Administration Services:
Trustee Solutions for Individuals & Families Looking for a Better Way

Are you confident in your family’s trustee? With so many different interests and complexities to consider, it can be difficult to find any level of comfort that your family is being well cared for by the current trustee. As a leading provider of family trustee services, ITC specializes in personal trust management and administration. While the types of different family trust agreements may seem limitless, when you understand a few common factors, the seemingly complex can feel more accessible.

What Is a Family Trust?

Technically, a family trust is a legal document that is used to protect assets and provide certain benefits to individuals and families. For many, a family trust is the tool of choice for managing estate and gift taxes, caring for a surviving spouse and keeping an estate out of probate.

The fact that family trusts are usually created for simple reasons can be easily lost in the technical day-to-day management of accounting, taxes, title, investment management and so much more.

Like so many things in life, we know a good relationship when we feel it. A good trustee helps you understand how your trust is designed and the benefits intended for you. When the possibilities and limitations of your trust document are authentically communicated through your trustee…it’s easy to feel the love.

Remember that most all family trusts exist for one reason: someone loved you and wanted you to have a leg up in your future. If you aren’t feeling that love…there’s a problem.

ITC’s Family Trustee Services

That’s where ITC’s family trust services come in: as your family’s trustee, we cut through all the technicalities to make the intent behind your family’s trust clear. With that clarity, we help families focus on what is really important because they are confident that they are cared for as their trust intended.

We specialize in all types of family trusts, including irrevocable family trusts, charitable remainder trusts, unitrusts, spousal support trusts and many more. Unlike an estate planning attorney, law firm or personal finance advisor, our sole responsibility is to manage your family trust. Contact us to learn why so many families trust ITC to manage their family trust agreements.

What Are the Main Family Trust Types?

At ITC, we most frequently talk about two kinds of personal or family trusts:

Revocable trust — Created during a grantor’s life and can be revoked, amended or terminated. The grantor often acts as the trustee and can use the assets.
Irrevocable trust — Created during a grantor’s life and cannot be amended, revoked or terminated. It is usually used to transfer assets during a grantor’s life or upon their death.

Almost all types of personal trusts fit under these two types of trusts. Trusts with intent regarding Charitable, Spendthrift, Spousal Support, Grantor Retained, Credit Shelter, Dynasty and Unitrust are all in one form or another a type of personal revocable or irrevocable trust. With so many types of trusts and all the associated complexities that can quickly become misunderstandings that fester and breed conflict, it’s easy to see why a family’s best chance at keeping great family relationships intact is the use of a corporate trustee.

Why Use Professional Trust Administration Services?

Professional trust administration services take discomfort and worry out of the equation. Many trustees have a difficult time servicing trusts with non-traditional assets such as family trusts for real estate and other types of non-investable or unique assets. Many individuals find themselves doing their best to act as the family trustee with few, if any, tools.

The difficulty of this situation is compounded when most family members are uncomfortable talking about issues surrounding money. Many individuals find that they are losing sleep at night. It can be a real struggle to try to manage family finances when they are governed by a trust document that can be difficult to understand.

Things can become even more complicated when family members or friends are named trustees or executors. At first glance, it seems like close family and friends are the ideal choice when picking a trustee. It seems like it makes sense when considering family dynamics and emotional outcomes. Unfortunately, many underestimate the time-consuming duties and level of detail associated with acting as a trustee or executor.

You Can Rely on Family Trustee Services from ITC

Whether you have a revocable, charitable, spousal support or irrevocable family trust, our team at ITC offers family trustee services that give you peace of mind. Our corporate trustee services ensure the terms of your trust are faithfully administered. Put our years of experience managing family trust agreements to work for your family today! Contact us for more information from an Independent Trust Company representative.

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