Trust Administration Services
At Independent Trust Company, our trust administration services are designed to help families reach their personal and financial goals. Our dedicated team of trust
World-Class Trust Management Services
What do we do differently than other trust administration companies? We’ve developed a platform that leverages years of experience through proprietary software and integrated processes so our focus can be on the people we serve. Our approach allows us to provide you with a highly individualized experience. If your family is ready for a better experience and more professional trustee services for your family trust, let us show you why so many believe we are the best choice.
Personal Trust Services With a Personal Touch
There are many trust management options, but not all of them have the same approach to trust management services. At Independent Trust Company, we believe that a personal approach to trust management leads to better outcomes.
Any trustee knows that their job is to protect and make trust assets productive according to a fiduciary process, but we are passionate about providing a personalized experience that helps families understand the original intent of the trust.
We offer personal trustee services for families or individuals who are looking for a better alternative than a family member or too-big-to-fail institution as trustee.
Personal Trustee Services You Can Trust
As personal trustees, we perform many services on behalf of a family’s trust. Our sole focus is on high-quality administrative services and excellent communication with the families we serve. Because of this approach, we don’t offer investment products or services. In fact, we believe it is a conflict of interest to serve as trustee and also manage a trust’s investments.
We will only serve as a directed or delegated trustee. That means that we delegate the day-to-day investment management to thoroughly vetted, specialized financial advisors. To do this, we analyze the trust document to determine the best investment objectives, build an Investment Policy Statement (IPS), then monitor advisor performance according to the standard we set as trustee. This creates the freedom for us to provide clear, independent oversight of the trust’s investment portfolio.
Check out our Financial Advisor Resource page for more information.
Frequently Asked Questions About Trust Administration
We know you might have a lot of questions about trust administration and our personal trust services. So, here are some Frequently Asked Questions we’ve developed over the years.
What Is Trust Administration?
Trust “administration” is a term commonly used to describe the services provided by a trustee to maintain and manage a trust. A trustee is responsible for a wide range of duties related to the personal and financial matters of a personal trust. Trustees assume significant responsibility and are held to a fiduciary standard. That means a trustee must act in good faith to always place their client’s interests ahead of their own. Some of those duties include cataloging, titling, monitoring, protecting the assets of the trust and more. All while working to follow a process to ensure the trust assets are productive and providing for beneficiary requests as dictated by the trust document.
Some additional duties under trust administration include, but are not limited to:
- Taking legal ownership of the trust’s assets
- Exercising care, skill and caution when making decisions on behalf of the trust
- Maintaining contact with beneficiaries to assure their understanding of trustee responsibilities and actions
- Keeping and maintaining complete, accurate records, including filing tax returns
- Communicating beneficiary entitlements and responsibilities
- Creating and implementing strategies to minimize tax liability
- Addressing maintenance, insurance and security of trust real estate
- Monitoring investments for quality and compliance with the stated investment objectives found in the trust document
- and the list goes on
How Big Must a Trust Fund Be?
At Independent Trust Company, we see a market where minimum account size requirements are ever rising. Often a trust management services group will only agree to serve as trustee for accounts with at least $15M in investable assets. Additionally, most trustees don’t want to serve as trustees of trusts that hold real estate. When one considers that the average trust is around $3M – $4M, it isn’t hard to realize that there is a gap in the market. Here at ITC, we have built an infrastructure that allows us to work with all sizes of trusts with a wide array of assets. Because we have a broader view of professional trustee services. We bring a service level usually only seen at a private bank to the average trust family to provide the level of care families need, regardless of the size.
Types of Trust We Support
Our personal trust services cover a wide range of trusts. Some of the types of trusts we support and administer are:
- Revocable Trusts and Irrevocable Trusts
- Generation-Skipping Trusts (GST)
- Estate Settlements
- Asset Protection Trusts
- Qualified Terminal Interest Property (QTIP)
- Unique Assets
- Dynasty Trusts
- Charitable Trust
Experience the ITC Trust Administration Difference
Don’t trust the performance of your family’s trust to just anyone. Put our years of client focus and experience to work for you and your family. Contact us today and find out why Independent Trust Company is the right solution for your trust administration services.