Sole Trustee Or Co-Trustee
We serve as corporate trustee either in a sole trustee capacity, fully responsible for all administrative aspects of a trust, or as co-trustee, serving as an administrative partner providing a flexible range of services.
DELEGATED OR DIRECTED TRUSTS - As distinct from the traditional “discretionary” trust model in which the trust company itself makes all investment decisions, our delegated or directed trust models provide families with added flexibility, including enabling investment advice through a third party of the client’s choosing, or assigning certain responsibilities to co-trustees or other professionals. Learn More
Any type of trust can be set up as a directed trust. The directed-trust structure lets the family design the trust around its requirements for investment management and diversification, distribution, with greater protection for the trustee and any individual co- against trustee against liability.
It enables the client, working through its chosen investment committee or equivalent, to assign the investment management responsibility, availing the family of much greater flexibility in investment strategy than would be available in the many states that do not allow directed trusts.
Unlike directed trusts, under South Dakota’s favorable statutes, in a delegated trust the trustee may directly assign certain responsibilities to other professionals and/or co-trustees, most typically the investment management. This differs from the directed trust’s requirement that an entity other than the trustee direct this assignment.
Further, with a delegated trust, the delegating trustee has responsibility for due diligence in this selection, and for monitoring the manager’s performance.
OPEN ARCHITECTURE CUSTODY - Clients need not transition assets custody to us. Clients may custody trust asset with any qualified firm of their choosing. We are also able to custody non-traditional assets such as real estate, hedge funds etc. Learn More
Fieldpoint Private Trust can facilitate custody for from anything from financial assets (i.e., securities accounts) to nonfinancial assets such as LLCs and interests in closely held businesses.
Unlike many traditional trust companies, which will require the transfer of trust assets, we can work with most outside custodians. The choice is yours. Alternatively, if a client does not have a custodian, we can facilitate custody services through our default third-party custodian.
DISTRIBUTIONS - Fieldpoint Private Trust will manage distributions of principal and income (whether mandatory or discretionary) in accordance with the terms of the trust. Learn More
When a trustee has discretion to make a distribution for health, education, welfare and/or maintenance (HEWM), he or she will do so in the exercise of their best fiduciary judgement.
For non-discretionary distributions, we will adhere with the highest professionalism to the written terms of the trust.
What distinguishes distributions from Fieldpoint Private Trust is the essential role of the trusted advisor, whose deep understanding of the family, often across generations, is embraced as a source of insight, wisdom, and enhancement of communication.
REPORTING - Provide periodic trust statements and investment performance reporting, as well as a web portal providing secure real-time access to each trust’s principal and income, transactional information, etc. Learn More
Fieldpoint Private Trust offers secure online access to trust accounts, including supporting charts and graphs. Reporting includes account summaries, an investment overview plus detailed investment data with tax-lot holdings, and a transaction activity schedule. Your wealth advisor and other third parties you wish to permission can also be granted access.
Ease of Use
Reporting is browser based; no software installation or maintenance is required. The only requirement is access to a web browser (e.g. Internet Explorer, Chrome and Firefox). The site is housed in a secured access computer room and protected by a firewall and bit encryption. This is a National Computer Security Association certified site.
TRUST ACCOUNTING - We will provide complete trust accounting via a feed from the trust’s custodian. We will show each account as a line item on our books and through internet access adjust the market values periodically to reflect accurate trust valuations. Learn More
The trust accounting statement will be supplemented with the custodian’s statement for full securities detail.
In addition to trust accounting, we will work closely with your tax accountants to ensure they have accurate and timely tax information, and can complete the required South Dakota Bank Franchise Tax return.
PLANNING AND ADVICE - In light of our knowledge of changing tax law, and the knowledge we gain regarding your family and beneficiary dynamics, we embrace the opportunity to work in close consultation with your trusted advisor to keep estate plans up to date, using the most recent and advanced estate planning techniques. Learn More
Our insights are informed by extensive experience with many of the country’s wealthiest families, as well as many of the top attorneys, insurance professionals, accountants and investment managers across the country. With this valuable background, we work closely with your advisor team to ensure every trust is congruous with your holistic wealth plan and addresses your most important questions.
- Will the fruits of my work ethic erode the ambitions of my heirs?
- Will future generations embrace my philanthropy, or resent it?
- For my Dynasty trust, should the timeframe of “forever” affect the investment strategy?
- As a beneficiary, how can I modernize an out-of-date trust?
- Does my business succession plan carry unseen risks?
- Is equal always fair?
By the Numbers
Ranked trust jurisdiction in the U.S. 1
Ranked for trust asset protection 2
In assets administered with administrative services partner, South Dakota Trust Company.
1. Trusts and Estates, January 2020
2. Trusts and Estates, January 2021