Professional Trust Administration and Estate Services

 

As an important component of BWFA’s holistic and comprehensive approach to wealth management, we are able to offer our clients professional trust administration and estate services.

BWFA’s relationship with TD Ameritrade Institutional provides our clients access to Advisors Private Wealth Trust (APWT). APWT acts as the professional trust administrator, either solely or in conjunction with a co-trustee, while BWFA acts as the independent investment advisor for a client’s trust and the beneficiaries.

WHEN SHOULD YOU CONSIDER TRUST SERVICES?

A trust is a legal entity, managed by a trustee for the benefit of the entities named in the trust. A BWFA client is the grantor of the assets used to establish the trust; the assets will then be titled in the name of the trust. The assets can include traditional investments, real estate, and other unique assets like land, art and collectibles. The financial assets are managed for you (and ultimately for your beneficiaries) by BWFA, with APWT providing the trust administration and estate services. Among the circumstances within which trust services should be considered are:

  • Death of a spouse
  • For the benefit of any children
  • Ill family members, unable or unwilling to manage their affairs
  • Business owners, especially when buying or selling
  • Risk of litigation in personally managing assets for others
  • Additional inheritances for the estate beneficiaries
  • To carry out charitable intentions
  • Financial irresponsibility of family members/beneficiaries

 

WHY CONSIDER PROFESSIONAL TRUST ADMINISTRATION AND ESTATE SERVICES THROUGH BWFA and APWT?

A professional trustee can offer many benefits. Importantly, the appointed trustee acts as a professional, impartial fiduciary who assumes the responsibility to act in the best interests of the trust and its beneficiaries.  In this way, our clients can completely avoid the administrative burdens as well as litigation risk from unhappy beneficiaries, easing any possibility of family disharmony.  The client is also provided continuity of service for their beneficiaries, with coordinated management (per their wishes) between BWFA and the trustee.

The tasks and functions APWT will perform include:

  • Safe keeping of assets
  • Preparation and execution of future tax returns
  • Preparation of trust statements
  • Disbursement and distribution of trust assets, as directed
  • Assessment of beneficiary’s needs and assets to approve distributions
  • Maintenance of administrative documents
  • Receipt of contributions
  • Detailed and accurate record keeping
  • Asset appraisals
  • Impartial and equitable treatment of beneficiaries
  • disposition of assets
  • Payment of all necessary bills

 

ESTATE SERVICES

APWT also can act in the capacity of estate representative for our clients.

A corporate estate representative will assume the duties of administratively settling a client’s estate and, similar to the appointment of a corporate trustee, will serve to relieve other family members of the burden and time commitment involved in this process.

WHAT ARE THE NEXT STEPS?

Please contact BWFA to schedule an appointment to explore the possibilities and benefits of a professional trustee relationship, or professional estate representative relationship.