Trust costs will eat away at your assets if you’re not careful. Even just a fraction of a percentage in fees can make a big difference in your net assets over time.
But doing an apples-to-apples comparison of the options is not easy unless you know the right questions to ask… and where to find the answers.
Because trust costs are not standardized across the industry, you have to pay close attention to the details of your administration and management agreements to really understand what you’re paying for.
There are different fee structures from trust to trust, as well as different ways of applying fees from administrator to administrator. Costs may be bundled, or there may be multiple separate fees for trust administration, trust management and funds management, each with a different rate and/or cost basis.
Many people think there isn’t much difference between the different trust administration and management options, so they don’t really look at the details and compare them before making a choice.
That’s a big and potentially costly mistake.
There are actually more options available than you might be aware of– overall administration and management fees can sometimes be reduced by handling them separately, and flat rate administrative fees based on transactions, not management fees, may cost less if they are available for your trust.
* Potential total costs through us includes trust administration, trust management and funds management fees.
** Potential savings are based on actual savings achieved for clients, but are for illustration purposes only– they are not a bid or quote. Your costs will vary depending on the best options available for your particular trust.
To find out what kind of trust cost savings we can offer you, please contact us to schedule a free confidential consultation.
We will be happy to research the options for your particular trust and look for a more cost-effective solution for you.