Trust Management
Our Proprietary Tools: Trustee Scorecard™
The Trustee Scorecard is a comprehensive trust administration and compliance service designed to streamline various aspects of trust management for individual trustees of Irrevocable Trusts. This encompassing service includes crucial features such as asset tracking, beneficiary reporting, Investment Policy Statement (IPS) management, income tax planning for trusts and beneficiaries, generation-skipping distribution planning, coordination of 1041 tax preparation, trust longevity planning, assistance with trust beneficiary distribution requests, and, when necessary, trust accounting.
Trustees play a pivotal role in administering trusts, ensuring adherence to trust agreements, and safeguarding the best interests of beneficiaries. The Trustee Scorecard™ employs key performance indicators (KPIs) to evaluate the trustee's effectiveness in overseeing trust assets and fulfilling responsibilities. This specialized scorecard serves as a valuable tool for assessing and improving the performance of individual trustees, particularly within Irrevocable Trusts.
Components of our Scorecards™ may include:
Fiduciary Duty Adherence
Evaluating the trustee's commitment to fulfilling their fiduciary duty, including loyalty, prudence, and acting in the best interests of the beneficiaries.
Investment Performance
Assessing the financial performance of the trust's investments, considering factors such as returns, risk management, and adherence to the investment strategy outlined in the trust agreement.
Risk Management
Analyzing how well the trustee is managing and mitigating risks associated with the trust assets, considering the risk tolerance and preferences outlined in the trust document.
Communication and Transparency
Evaluating the quality and frequency of communication between the trustee and the beneficiaries, including providing timely and transparent information about the trust's performance and any relevant changes.
Legal and Ethical Standards
Confirming that the trustee operates within the bounds of legal and ethical standards, avoiding conflicts of interest and maintaining a high level of integrity in all trust-related activities.
Compliance and Regulatory Adherence
Ensuring that the trustee follows all legal and regulatory requirements, including tax regulations and trust laws, and that they are fulfilling reporting obligations.
Cost Management
Assessing the efficiency of the trustee in managing the costs associated with administering the trust, including trustee fees and other administrative expenses.
Distributions and Disbursements
Reviewing the trustee's handling of distributions and disbursements to beneficiaries, ensuring that they are in accordance with the terms of the trust and meeting the financial needs of the beneficiaries.
Record Keeping
Evaluating the trustee's record-keeping practices ensuring accuracy, completeness, and transparency in documenting trust transactions and activities.
Succession Planning
Assessing the trustee's readiness and planning for the eventual succession or transition to another trustee if required.
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Fiduciary Duty Adherence
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Investment Performance
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Risk Management
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Communication and Transparency
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Legal and Ethical Standards
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Compliance and Regulatory Adherence
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Cost Management
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Distributions and Disbursements
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Record Keeping
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Succession Planning
At Pinnacle, we help individual trustees fulfill their fiduciary responsibilities, manage trust investments and handle trust administration with a range of services.
Basic Trust Program
A specialized service catering to trusts with liquid assets totaling less than $500,000.Program Includes: Trustee Scorecard, Trust Longevity Plan, Asset Tracking and Performance Reporting, Online Trustee Portal, Investment Advisory services and one meeting per year.
Program Fees: Trust WM Fee Schedule on managed assets + $250 quarterly planning fee + 15 bps performance tracking fee for non-managed assets.
Minimum Annual Fee=$3,000
Lifetime Trust Program
A specialized service catering to trusts with liquid assets ranging from $500,000 to $10,000,000.Program Includes: Trustee Scorecard, Trust Longevity Plan, Asset Tracking and Performance Reporting, Online Trustee Portal, Investment Advisory services and two meetings per year.
Program Fees: Trust WM Fee Schedule on managed assets + $250 quarterly planning fee + 15 bps performance tracking fee for non-managed assets over $250K.
Minimum Annual Fee=$5,000
Enhanced Trust Program
A specialized service catering to trusts in liquid assets greater than $10,000,000 and/or holding passive business interests.Program Includes: Trustee Scorecard, Trust Longevity Plan, Asset Tracking and Performance Reporting, Online Trustee Portal, Investment Advisory services and three meetings per year.
Program Fees: Trust WM Fee Schedule on managed assets + $750 quarterly planning fee + 15 bps performance tracking fee for non-managed assets over $500K.
Minimum Annual Fee=$10,000
Comprehensive Trust Program
A specialized service tailored for trusts with diverse non-liquid investments.Program Includes: Trustee Scorecard, Trust Longevity Plan, Asset Tracking & Performance Reporting, Online Trustee Portal, Investment Advisory services and four meetings per year.
Program Fees: Trust WM Fee Schedule on managed assets + $1,250 quarterly planning fee + quarterback fee based on trust complexity +15 bps performance tracking fee for non-managed assets over $1M.
Minimum Annual Fee=$20,000
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Basic Trust Program
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Lifetime Trust Program
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Enhanced Trust Program
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Comprehensive Trust Program
