In addition to Financial Planning and Investment Management, RegentAtlantic offers Private Trust Services to its clients.
What is a Trustee? A trustee is an individual or entity who is given administrative responsibility for property placed within in a trust, and has the legal obligation to administer that property in the best interests of the trust beneficiaries. Our interest is to serve your interest – whether you are still living or no longer here. If your estate plan includes assets being placed in trust, the trustee you select will be ultimately responsible for seeing that goals you set out in the trust document are achieved. Establishing a trust may be a useful option for families and individuals that have special circumstances or complex situations.
You can choose almost anyone to serve as your trustee — a family member, a friend, an accountant or attorney — but you may want to consider a corporate fiduciary, such as RegentAtlantic Private Trust. Naming a corporate fiduciary — alone or jointly with a family member — can have advantages for your beneficiaries, including continuity, stability and maintaining family harmony.
Trust Solutions. RegentAtlantic Private Trust offers a variety of different Trust solutions. We can implement a trust structure based on your desired objective and solution. RegentAtlantic Private Trust, a Trust Representative Office of National Advisors Trust Company, is able to administer trusts located in all 50 states, including South Dakota, which is known for its favorable and progressive trust laws.
Selecting a Trustee. When selecting a trustee, we believe that the most important consideration is your comfort with that person carrying out the fiduciary obligations of the trust. You may consider pairing an individual that you know and trust with a corporate trustee. With this approach, you’ll have the perspective and family connection of an individual trustee as well as our professional experience, objectivity and skills.
RegentAtlantic Private Trust is a Trust Representative Office of National Advisors Trust Company.
Types of Trusts
Seven of the more common Trusts include:*
Revocable trusts are created during the lifetime of the grantor and can be modified or revoked entirely, providing for lots of flexibility. Revocable trusts, sometimes referred to as a living trust, can be helpful to avoid probate, which can be quite onerous depending on the state and your personal situation. Revocable trusts can also provide privacy to one’s affairs. When a will is probated it becomes public record and any member of the public can then request to view a copy. Utilizing a revocable trust and avoiding probate ensures that your matters remain private.
Unlike a revocable trust, irrevocable trusts cannot be modified or revoked unless the beneficiaries of the trust agree to such a change. When funding an irrevocable trust, the grantor gives up all ownership of the assets, which can be helpful to protect against creditors or to remove any growth on the assets placed in trust from an individual’s estate.
Charitable trusts are irrevocable trusts where there is charitable intent with the assets that also provides the donor with certain tax benefits. There are a variety of different structures that can be utilized depending on the goals of the individual funding the trust. Charitable trusts can be used to achieve tax-deferred diversification of appreciated assets and create an income stream with those assets, or satisfy annual charitable goals and limit gift and estate tax consequences for an individual’s heirs.
Dynasty trusts are long-term trusts that are created to pass wealth from generation to generation while avoiding the gift tax, estate tax, and generation skipping transfer tax. In addition to avoiding those taxes, a dynasty trust can provide protections to ensure that assets remain in the family.
Marital trusts allow an individual to provide for your spouse but also ensure that your children receive an inheritance. They provide a way to control the ultimate distribution of your assets after your death.
Similar to marital trusts, a bypass trust allows you to provide for your spouse but also ensure your children receive an inheritance. The difference is that the intent of this trust is to fund it with the maximum amount from an estate exclusion standpoint at the Federal and/or State level and for the assets to bypass the estate tax when your spouse passes away. The spouse does have access to the trust assets if needed during their lifetime.
Special needs trusts, sometimes also known as supplemental needs trusts, allow disabled individuals the right to utilize property that is in held in the trust for their benefit while at the same time not jeopardizing the needs based aid that a disabled individual might receive from the government.
* The decision to establish a trust and the selection of trustees is a complicated and sometimes irrevocable decision. It is critical that you consult with a legal and/or tax professional of your choosing prior to establishing a trust with RegentAtlantic Private Trust. RegentAtlantic does not provide, and this information should not be construed as, legal or tax advice and should not be solely relied upon to make this decision.
RegentAtlantic Private Trust is a Trust Representative Office of National Advisors Trust Company (NATC). RegentAtlantic and NATC are separate and unaffiliated companies and are not responsible for each other’s policies and services. Investment advisory services offered through RegentAtlantic, an SEC Registered Investment Adviser.
Important disclosure information
Please remember that different types of investments involve varying degrees of risk, including the loss of money invested. Past performance may not be indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy, including the investments or investment strategies recommended or undertaken by RegentAtlantic Capital, LLC (“RegentAtlantic”) will be profitable.
Please remember to contact RegentAtlantic if there are any changes in your personal or financial situation or investment objectives for the purpose of reviewing our previous recommendations and services, or if you wish to impose, add, or modify any reasonable restrictions to our investment management services. A copy of our current written disclosure statement discussing our advisory services and fees is available for your review upon request.
This article is not a substitute for personalized advice from RegentAtlantic. The statements and opinions expressed are, however, subject to change without notice based on market and other conditions and may differ from opinions expressed in other businesses and activities of RegentAtlantic. Descriptions of RegentAtlantic’s process and strategies are based on general practice and we may make exceptions in specific cases.
RegentAtlantic does not provide legal or tax advice. Please consult with a legal and or tax professional of your choosing prior to implementing any of the strategies discussed in this article.