Trust Administration Services
Protect Your Family’s Legacy for Generations with Experienced Trust Management and Administration.
Contact Our Trust Services Team
Trust Administration Services
Protect Your Family’s Legacy for Generations with Experienced Trust Management and Administration.
Contact Our Trust Services Team
Why Choose Cresset Trust Company
A Modern Approach
to Trust Services
The need for trust services has never been greater as families approach their legacy in an organized and highly personal way.
Cresset Trust Company delivers a family’s trust needs, serving at the highest fiduciary standard. Our team partners with you and your legal counsel to carry out the grantor’s intent, manage complex special assets, and meet the specific needs of beneficiaries.
As a South Dakota Chartered Public Trust Company, Cresset Trust Company is positioned to offer the benefits of favorable trust and tax laws, privacy, and a significant asset protection jurisdiction for third-party and self-settled trusts. With flexibility, customization, and white glove service, we aim to deliver a solution that stands apart from many large institutions.
Our Trust Administration Services
Trustee Roles
Full Trustee
Full array of discretionary trust services, including the management of trust assets, trust administration, distribution decisions, coordination of tax filings, beneficiary communication, etc.
Co-Trustee
Along with others, such as a designated family member, we share the various responsibilities of full trustee.
Directed Trustee
Trust administrative services, South Dakota situs, coordination of tax filings, and money movement. All investment and distribution decisions are managed by others.
A nominated investment professional, or other party, is delegated a specific investment or distribution function. Cresset Trust Company provides oversight, as well as the remainder of all trust services.
Types of Trusts Administered
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Asset Protection Trusts (Self Settled or Third Party)
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Beneficiary Defective Trusts
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Charitable Trusts
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Dynasty Trusts
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Estate Settlement
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Grantor Retained Annuity Trusts
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Insurance Trusts
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Intentionally Defective Grantor Trusts
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Revocable Trusts
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Spousal Lifetime Access Trusts (SLAT)
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Special Purpose Trusts
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Special & Supplemental Needs Trusts
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Marital & Family Trusts
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QSBS Trusts
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& Others
The Cresset Trust Services Team
Meet the trust services leadership team providing a boutique experience dedicated to your needs.
Why Choose a Corporate Trustee for Your Family's Trusts?
Choosing a corporate trustee offers several advantages, particularly when it comes to managing and administering trusts. Your corporate trustee ensures that your trust is managed professionally, impartially, and with long-term stability, helping to preserve and protect your family’s wealth for future generations.
Specialized Knowledge & Experience
Impartiality
dsa
Continuity & Stability
Professional Management
Security & Accountability
Resources & Infrastructure
$3.8B*
*as of October 1, 2024
2015
*as of October 1, 2024
Full Array of
Trustee Services
*as of October 1, 2024
Frequently
Asked Questions
What if I have real estate or other non-marketable assets in the trust?
Cresset Trust Company (CTC) is well-versed in the oversight of special assets. Our clients commonly have complex financial lives and expect that their trusts will as well. Please contact us about any specific asset questions, and note that we regularly manage trusts that hold real estate, closely held businesses, operating companies, notes, intellectual property, etc.
What if we have a trust that is governed by another state law?
We need to review the document for any trust we are considering, but it is common for a trust to be drafted using another state law. Often CTC can act as trustee or co-trustee and move the administrative functions to South Dakota but leave the substantive governance in the state the trust originated. It is also common for a trust to allow the governing situs to be changed by a trustee. Further, we can always consider whether decanting or modification could accomplish your goals. Each trust situation is unique, but often we can find a solution along with your team of advisors.
What if my trust requires a certain level of assets or capitalization?
It is common in older trust instruments that any corporate trustee must meet certain financial requirements. As with many situations, each trust is unique and we are always willing to review a document and let you know if we meet the requirements or have a solution to modify the requirements if that is your desire.
Do you need to be involved in the drafting of the trust? Do you have the required trust provisions?
We appreciate being part of the drafting process, it helps us develop a sense of the grantor’s intent, get to know your legal team, as well as the purpose and structure of the transaction. However, we do not require specific provisions to be included before we act as the trustee. We can be helpful in incorporating South Dakota law, or sharing experience with specific language around beneficiary distributions, notice or waiver of notice to future beneficiaries, diversification of assets, etc.
Do you draft trusts if I don’t have a lawyer to do it?
We do not. We work through your outside legal team to get the trust in place.
How do you charge to act as the trustee?
We charge flat fees that are paid annually in advance and are not tied to the size of the trust or assets managed. Feel free to reach out to request a review and customized fee quote.
Do you have experience working with beneficiaries with mental health or addiction issues?
We do have quite a bit of experience in this area. We work closely with the grantor and other family members to determine the grantor’s intent and beneficiary needs. No one situation is the same, and we work hard to customize our approach so that the family doesn’t have to be in the difficult position of a trustee.
What is your process for making distributions and how quickly can a distribution be made?
We are nimble and can typically make a distribution decision within days, rather than the weeks or months of a large institution. Every distribution request is unique, so there may be information requested before we can approve, but we strive to be thoughtful, creative, flexible, and responsive—while still acting in compliance with the trust and our fiduciary duties.
Do you prepare trust tax returns?
The preparation of trust tax returns is not included in the trustee fee, but we do coordinate all aspects of tax filings and payments. We can work through your existing tax preparer or arrange for a tax preparer on your behalf.