Professional advisors, family, friends, business partners/associates and non-profit institutions, among others, are often asked to serve as trustee for family or charitable trusts.
Acceptance of this appointment means taking on fiduciary responsibility for the trust beneficiaries, as well as other key functions. To support you in these endeavors, we are pleased to present the following suite of services prepared exclusively for Trustees.
We provide ongoing advice and guidance on certain trust provisions and operational matters in accordance with your attorney’s situational legal advice.
We can help Trustees design effective and appropriate investment policy statements. The Trustee may choose to engage Sequoia as the investment manager or as an independent consultant to oversee the existing allocation and managers. In either capacity, we will work to transition the trust’s portfolio from current to proposed strategies, which may involve manager changes, exposure to new asset classes and/or consolidation within a single custody platform.
Comprehensive Financial Planning
As a financial planning firm, we have the resources and capabilities to assess the income needs of beneficiaries so that Trustees can make informed decisions, design financial plans that can help the beneficiaries manage their cash flow, and educate beneficiaries on a wide range of financial and planning topics.
We provide Trustees with a summary of key trust provisions including balance sheets, flowcharts, insurance reviews and other materials designed to help the Trustee make well-informed decisions and make their job easier.
We may also provide additional resources including distribution documentation and checklists, beneficiary letters and notices, and educational material.
Leveraging our trust accounting platform, we are able to calculate and automate recurring distributions and payments, such as required income distributions, insurance premiums, estimated taxes, advisor fees, note payments and many other transactions. Trades are executed seamlessly, and capital gains and losses are tracked to aid the investment decision-making process.
Trust Accounting and Tax Compliance
Our trust accounting platform provides all the reporting and recordkeeping needed to help Trustees perform their duties and beneficiaries to keep fully informed, including income and principal separation, full transaction history, trades and distributions, and easy-to-read quarterly statements.
We also offer several options for the preparation of the annual trust tax return and related estimated payments. We can assist with document compliance such as forms 1041, 1040, 709, etc. (Tax returns/forms will be prepared by a third party.)
*Trading and account transfers may be executed by Sequoia Financial Advisors pending overall relationship scope, and necessary authorizations to effect these transactions.
**Trust accounting can only be performed if assets are held in custody at Charles Schwab.