We work closely with our clients through every step of the trust creation process, regardless of the type of trust. Our professionals review each client’s needs, learning about his or her specific family situation, tax status, tolerance for investment risk, and any other particular requirements.
As a trustee, we will:
- Hold trust property,
- Invest trust assets in accordance with the trust and needs of all beneficiaries,
- Distribute trust income and/or principal to the beneficiaries as directed in the trust instrument,
- Administer the trust for tax efficiency,
- Keep records of all trust transactions,
- Issue statements of account and tax reports to the trust’s beneficiaries,
- Prepare and file income tax returns for the trust and annual tax summaries for our clients’ tax professionals,
- Coordinate with beneficiaries regarding their financial status and objectives,
- Continually communicate with the account beneficiaries, answering any questions they may have about the trust, and
- Coordinate with others who are part of your advisory team.
Perkins Coie Trust Company and Perkins Coie LLP have the planning, administrative, investment and legal resources needed to manage and administer trusts of all types and sizes in an efficient, personalized and professional manner.
The essential purpose of the trustee is to embody the cycle of the gift: to help the giver (if possible) become alive to all the possibilities of the gift, to prepare the beneficiary to receive well, and to keep the spirit of the gift alive in the family.
Source: Keith Whitaker of Wise Counsel Research Associates