Trust Services
Protect Your Family’s Legacy for Generations with Experienced Trust Management and Administration.
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Why Choose a Corporate Trustee for Your Family Trust?
Specialized Knowledge and Experience
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Corporate trustees bring a deep understanding of trust law, tax implications, and investment strategies, ensuring that the trust is managed according to the highest legal and financial standards.
Impartiality
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Unlike individual trustees who may have personal biases or conflicts of interest, corporate trustees act impartially, making decisions solely based on the best interests of the beneficiaries.
Continuity and Stability
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Corporate trustees provide consistent management across generations, avoiding disruptions that may occur if an individual trustee becomes incapacitated, retires, or passes away.
Professional Management
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With dedicated teams, corporate trustees can handle the complex administrative tasks of a trust, including record-keeping, compliance, and reporting, ensuring that all legal and regulatory requirements are met.
Security and Accountability
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Corporate trustees are regulated entities with fiduciary responsibilities that serve in the best interests of clients. This oversight provides an added layer of security and ensures that the trust is managed with the highest level of care and integrity.
Resources and Infrastructure
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Corporate trustees often have access to a broad range of resources, including legal, tax, and investment professionals, allowing for a more comprehensive approach to trust management.
The Cresset Trust Services Team
Meet the trust services team providing a boutique experience dedicated to your needs.
A Modern Approach to Family Office Trust Services
The need for trust services has never been greater as families approach their legacy in an organized and highly personal way.
Cresset 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.
Cresset 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 Family Trust Administration Services
The need for trust services has never been greater as families approach their legacy in an organized and highly personal way.
Trustee Roles
Full Trustee
Co-Trustee
Directed Trustee / Administrative Trustee
Delegated Trustee
Types of Trusts Administered
(Self Settled or Third Party)
Special & Supplemental
Needs Trusts
& Others
Cresset 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.
We are 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.
Structure
Expertise | Solutions
50+ Trusts Onboarded
*as of April 1, 2024
Founded in 2015
Full Array of Trustee Services
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, 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.