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Planning a Trust

One of the most important decisions in estate planning is who to name as trustee.

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How we can help?

With all the different financial service providers out there, each one is chomping at the bit to get a piece of your portfolio. Often times, investors can find themselves with their assets scattered about at different banks, insurance companies and brokerage firms. As a result, it becomes quite the exercise to coordinate and deal with different people in various aspects of your finances.

At Naples Wealth Planning, we want to help consolidate your trust accounts at the different institutions your using and work closely with your attorney and accountant. This will allow us to forge a document that will hold water and become rock solid. 

Capabilities

Naples Wealth Planning Advisors work closely with clients who require a corporate trustee. Our advisory firm leverages the administrative trustee services from Charles Schwab Trust Company of Delaware (CSTCD). NWP advisors retain the right as your advisor to make all investment management decisions for assets of eligible trusts, while CSTCD offers cost-efficient support by performing the fiduciary administrative duties for the trust.

Working closely with CSTCD, our clients benefit from the following:

  • Collaborative thinking—Consult with CSTCD’s knowledgeable, professional trust officers. Clients also receive an enhanced level of experienced service.
  • Professional knowledge—CSTCD has the expertise to administer the complexities of a trust.
  • Administrative objectivity—Having an objective, corporate professional fiduciary serve as trustee instead of an individual family member can avoid potential conflicts in trust administration.

Fiduciary administrative tasks include:

  • Income and principal distributions, made according to the trust document
  • Accounting and recordkeeping of all trust activity
  • Preparation and filing of federal and state taxes
  • Monthly reporting, detailing all trust assets and activity, for you and your clients

Trust FAQs

What is a trust?

A trust is a legal relationship in which one or more persons or entities (trustees) holds legal title to property and manages it for the benefit of one or more persons or entities (beneficiaries).

Why establish a trust?

A trust can potentially accomplish a wide variety of objectives:

  • Provide continuity in management of trust assets in the event of your incapacity or death.
  • Help your beneficiaries avoid the expense, delay, and publicity of probate.
  • Allow you to create rules for how your assets will be preserved or distributed and to name a trustee to carry out your wishes.
  • Minimize transfer/estate taxes.
  • Allow for the implementation of charitable giving strategies.
How do I know which trust is right for me?

There are many types of trusts available, depending on your and your family’s unique needs. Your attorney or estate planner can help you determine which type of trust is the best choice for you; your NWP Advisor can help you establish the trust with our trusted Custodian.

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