Trust Administration
Experience, Impartiality and Expertise
Managing a Lifetime of Wealth
When selecting a trustee to administer the wealth that you have built over a lifetime, it is critical that the trustee you select has the experience, impartiality and expertise necessary to efficiently and effectively manage both trust assets and relationships. The decision whether to use an individual or corporate trustee (or both) to manage your affairs during your lifetime or upon your death is an important one.
A local, independent Trust Solution
Achieve Your Wealth Management Goals
Essex Trust offers a full range of trust services designed to help clients achieve estate planning and wealth management goals. Because Essex is a local, independent firm, relationships with Essex Trust are managed locally by a dedicated staff whose collective experience in administering different types of trusts exceeds 100 years. Our goal is to develop and maintain relationships that span generations. The management of fiduciary relationships is becoming increasingly complex due to ever-changing tax laws, complicated family dynamics, investment market challenges, and overall risk management. As you can imagine, the legal duties and responsibilities imposed on a trustee are numerous.
Ideas and strategies
Flexibility Administering Your Assets
Our professionals, working in concert with your legal and financial advisors, can share ideas and develop strategies to provide flexibility, continued asset growth and tax benefits to your estate plan that will benefit your intended beneficiaries. This goal is achieved through the administration of your trust in accordance with your wishes as expressed in your trust document and with the best interests of your beneficiaries in mind.
Broad Range of Experience
We Have the Experience You Need
Essex Trust has experience in administering many different types of trusts, including revocable living trusts, irrevocable trusts (marital, residuary and asset protection trusts), irrevocable life insurance trusts, charitable trusts (charitable remainder and charitable lead trusts, as well as charitable foundations), grantor retained annuity trusts, and special needs trusts.
Trust Administration Services
- Trust account administration and trust document compliance
- Objective review of beneficiary requests in relation to trust provisions
- Development of investment strategies consistent with trust terms and beneficiary needs
- Fiduciary income tax planning and oversight of tax return preparation
- Collection and recordation of trust income in accordance with state law
- Distributions of income and principal in accordance with applicable trust provisions
- Management of trust real estate
- Payment of trust expenses and beneficiary obligations, where applicable
- Oversight of investment activity to ensure compliance with stated investment objectives
- Oversight of periodic accountings, where required