When You Don’t Know Where Clients’ Trusts Are Held: Next Steps for Advisors

Many advisors are starting to realize they may not have full visibility into their clients’ trust structures.

The question then becomes:

What should you actually do next?

Below are the most common questions advisors ask once they recognize there may be gaps and how to approach them in a practical, client-friendly way.

What is the first step if I’m not sure whether my clients have trusts?

You don’t need a formal audit or deep dive right away. In most cases, it begins with simply asking:

Do you have any trusts in place that we haven’t discussed?
Who is currently serving as trustee?
Where are those assets held?

These questions are straightforward and easy to incorporate into a regular review meeting.

The goal at this stage is awareness, not immediate change.

How do I bring this up without making the client uncomfortable?

Keep the conversation focused on completeness, not concern.

You can frame it as part of your responsibility to understand the full picture:

“I want to make sure I have a complete view of your financial structure, especially as we think about long-term planning. Are there any trusts or accounts held elsewhere that we should factor in?”

This positions the conversation as proactive and client-focused, not reactive or intrusive.

What should I do once a client confirms they have a trust?

The next step is to understand the structure.

You don’t need every detail immediately, but a few key pieces of information are helpful:

Who is the trustee?
What type of trust is it?
Where are the assets custodied?
Who is currently managing the investments?

From there, you can begin to see how the trust fits into the broader financial picture.

How do I know if I’m missing part of the picture?

There are usually a few signs:

Assets that don’t appear in consolidated reporting
References to attorneys, trustees, or “other accounts”
Family members involved in financial decisions
Gaps between known assets and overall net worth

If something feels incomplete, it often is. The key is not to assume but to ask.

Should I try to move the trust assets right away?

Not necessarily.

The goal is not immediate consolidation; it’s alignment.

Before making any changes, it’s important to understand:

How the trust is structured
What the client’s goals are
What role is the trustee playing

How do I get involved if there is already a trustee?

Start by building the relationship.

If appropriate, ask the client if they are open to introducing you to the trustee or including you in future discussions.

Position your involvement as collaborative:

“I’d like to make sure our investment strategy is aligned with how the trust is being managed.”

Most trustees are open to working with advisors when the focus is on alignment and client outcomes.

What if the trust is held at another institution?

This is very common.

In these situations, the focus should be on understanding:

How decisions are being made
Whether the current structure supports the client’s goals
Where coordination may be lacking

Sometimes the structure works well. Other times, there may be opportunities to improve transparency and alignment.

When should I bring in a corporate trustee?

A corporate trustee can be helpful when:

The current structure lacks coordination
There are concerns about fiduciary oversight
The advisor is not being included in key decisions
The client wants a more professional, long-term solution

This is less about replacing people and more about strengthening the structure.

How does Independent Trust Company (ITC) help advisors take the next step?

Independent Trust Company works with advisors who are in exactly this position, where there may be limited visibility, fragmented structures, or uncertainty around how a trust is being managed.

ITC helps advisors move from “not fully sure” to “fully aligned.”

That typically includes:

Clarifying the current structure
ITC can help review and organize how the trust is set up, including who is involved, where assets are held, and how decisions are being made.
Coordinating with all parties
This includes working with attorneys, existing trustees, and family members to ensure everyone is aligned.
Providing fiduciary oversight
As a corporate trustee or co-trustee, ITC assumes responsibility for administration, compliance, and governance.
Keeping the advisor at the center
Importantly, ITC does not take over the investment relationship. Advisors continue to manage assets and guide strategy.

The result is a more connected structure, one where decisions are coordinated, not fragmented.

Can ITC help if I don’t want to disrupt the existing relationship?

Yes.

In many cases, ITC works alongside existing structures rather than replacing them immediately.

This might include: