Advisors, please visit our ADVISOR PAGE Cornerstone Trust Services*
Investment management. We manage investments for many different types of accounts, including trust accounts. All of our trust accounts are expertly managed according to the principles of prudent investing and in strict conformance to the trust‘s objectives as specified in the controlling trust document.
Enhanced Trust Services
Cornerstone's Trust Services are not limited to the management of trust assets. As shareholders in the National Advisors Trust Company FSB*, we are also able to provide highly efficient, personalized trustee services in situations where a corporate trustee is needed.
Who might benefit? Cornerstone's Enhanced Trust Services may be of interest if you are looking to establish one or more trusts for your estate plan, or you are contemplating a change of trustee within an existing plan.
Who can serve as trustee? In general, a trustee can be a person or a company. There can be more than one trustee, in which case the named parties work together as co-trustees. Additionally, most trusts name a successor trustee who can take over if the primary trustee becomes incapacitated or resigns.
Why name a corporate trustee? Many trusts name a family member or trusted friend as the trustee. This works well when the provisions of the trust are simple and there are no competing interests among trust beneficiaries. In cases where the trust is very large and complex, however, or where the presence of a completely independent, unbiased trustee is important, a corporate trustee is often the best choice. To get the best of both worlds, some trusts require a corporate trustee and a family member to serve as co-trustees. This arrangement provides both sensitivity to family needs and professional expertise.
Typical trust services today. It’s no secret that the trust world is becoming more and more "depersonalized". Institutions are moving away from locally provided services. Trust departments are often reached through calls to 1-800 numbers and voicemail. It would not be unusual to speak with a different person each time contact is made. Trust portfolios may or may not be tailored to meet unique needs or tax circumstances as intended. Investment management is often done "in house", which can introduce conflicts of interest. In short, today's trends are not consistent with the achievement of carefully planned outcomes, which is what trusts are all about.
Cornerstone Trust Services. Our trust services differ in that they are highly personalized. We offer a single point of contact for all trustee-related communication. By taking the time to understand you, your needs, and the terms of your trust document, we are able to clearly explain situations as they arise, help you make the best possible decisions going forward, and represent your interests during communication with the corporate trustee. For example, we understand the sometimes tricky business of requesting distributions which, according to the trust document, must only be used for the “health, education, maintenance, or support” of the beneficiary (a common stipulation).
Integration with other services. Cornerstone Trust Services are designed to be integrated with other related services such as financial planning. Integration often results in a more efficient overall plan.
Example. Consider the common situation in which a trust is intended to provide current income for an initial beneficiary followed by a lump sum inheritance to a final beneficiary. Withdrawing too much income may leave a smaller-than-intended legacy. Conversely, withdrawing too little income may unnecessarily limit the initial beneficiary’s standard of living. How much income should the first beneficiary take? Cornerstone's Financial Planning process might be used to clearly reveal the tradeoffs between current income and future legacy. In addition, our highly efficient investment portfolios might be employed to help maximize the final legacy. The end result? Optimal planning through informed decision-making.
Cornerstone's Unique Advantage
Shareholder in trust company. Cornerstone’s trust administration services and custodial services are provided by National Advisors Trust Company FSB*, an organization founded by 100 of America’s top financial advisory firms. We are the only such advisor in Colorado. As a member firm, we are able to provide access to the company's professional trustees and supporting staff.
Retention of existing advisors. Cornerstone Trust Services are specifically designed to allow integration with the most appropriate providers of other related services. For example, if a client already has an estate planning attorney and a long-time tax preparer in place, he or she can retain those trusted advisors, perhaps adding Cornerstone's expertise in the areas of financial planning and investment management along with a National Advisors Trust corporate trustee to create a "team of experts" working together in support of a robust trust solution.
High quality at competitive pricing. Highly personalized service combined with teams of independent experts should command premium pricing, right? Not in this case! Our pricing is usually at or below that charged by the trust departments of major banks. Please
contact us for details.
* | National Advisors Trust Company, FSB, is a wholly owned subsidiary of National Advisors Holdings, Inc., a Delaware Corporation. The shareholder advisory firms of National Advisors Holdings, Inc. each hold less than ten percent ownership interest in the company. |