Trust & Fiduciary Services

StateTrust provides counsel on the creation, legal organization, management and transfer of inheritance assets.  StateTrust does not provide fiduciary or trustee services, nor does it act as a fiduciary or trustee.  StateTrust only serves as an intermediary in providing introductions to legal counsel and licensed trust companies that can provide fiduciary and trust services.  Our services consist of managing the assets held in such trusts and legal entities.

 

The primary duty of a fiduciary, is to manage a prudent investment process, by following the guidelines and objectives specified by the Trustor, and as defined in the Letter of Wishes of the Trust Fund. Furthermore, a fiduciary plays an impartial role between the Trust Fund's interpretation and execution.

 

The principal virtues of a Fiduciary are:

  • Availability: An individual may be indisposed or absent at critical times or may lack the time and skills needed to devote to managing a Trust Fund.
  • Neutrality: The most appropriate means to deal with delicate family matters or conflicting claims among beneficiaries.
  • Specialization: As Trust Fund issues become more complex and more closely regulated, managing them should be left to dedicated professionals who are experts in the subject matter.
  • Professionalism: Investment decisions are made by an investment committee with the goal of mitigating risks associated with this activity.
  • Follow-up: Specialized, periodic reports delivered to the various participants.

Fideicomisos

What is a Trust?

A Trust is a legal contract that allows a client (the “Grantor” or “Settlor”) to transfer assets that are then managed by a third party (a “Trustee”).

The Trust holds the client's assets for and on behalf of his or her beneficiaries, under the rules and conditions stipulated by the client (The Purpose or Intent of the Trust). The Trustee is responsible for managing, administering and disbursing of the Trust's assets and proceeds to pay out income or principal to the beneficiaries.

A Trust is an important component of a client's overall estate plan since it works to protect assets and can help provide for a client family's future.

The Trust service ensures that a client's wealth is transferred to the heirs effectively, privately, and according to the terms and conditions previously specified.

Trusts are an important component of your overall Estate Plan because they work to protect your property and assets. Trusts have a long history – they have been in use since the 11th Century, when they first came into existence in medieval England. There are many types and categories of trusts, each with a specific purpose and special benefits.

*  StateTrust does not provide fiduciary or trustee services, nor does it act as a fiduciary or trustee.  StateTrust only serves as an intermediary in providing introductions to legal counsel and licensed trust companies that can provide fiduciary and trust services.  Our services consist of managing the assets held in such trusts and legal entities.

Benefits of a Trust

The Benefits of a Trust are:

  • Provides a legal vehicle to protect and professionally manage client assets (especially if beneficiaries are minors, elderly or incapacitated).
  • Assets held in trust can avoid probate, which happens when a person dies without leaving a will, resulting in a lengthy, costly and time consuming process.
  • Provides more privacy than wills and other legal documents because often they are not part of the public record.
  • Offers more effective estate tax protection.
  • Protects against nationalization and confiscation of assets.
  • Provides a secure and efficient inheritance vehicle. They can hold your property for your beneficiaries and distribute it as you declare. You decide to whom, how, when and under what circumstances the assets will be disbursed.
  • Trusts can be used to manage your investments professionally.
  • Trusts offer flexibility in the selection of Trustees and Beneficiaries.

 

*  StateTrust does not provide fiduciary or trustee services, nor does it act as a fiduciary or trustee.  StateTrust only serves as an intermediary in providing introductions to legal counsel and licensed trust companies that can provide fiduciary and trust services.  Our services consist of managing the assets held in such trusts and legal entities.

Components of a Trust

The interaction of the different Trust components can be visualized in the following image:

Fideicomisos

*  StateTrust does not provide fiduciary or trustee services, nor does it act as a fiduciary or trustee.  StateTrust only serves as an intermediary in providing introductions to legal counsel and licensed trust companies that can provide fiduciary and trust services.  Our services consist of managing the assets held in such trusts and legal entities.

Structure of a Trust

A trust is a separate legal entity created when the Grantor transfers the control of his or her assets to an independent third party (the trustee), who will then manage these assets as the Grantor declares. The trust is regulated by guidelines delineated in a special document, which may be called one of several names: the Settlement Deed, the Trust Deed, the Trust Instrument or the Declaration of Trust. One other element in the trust is a document that the settler writes known as the “letter of wishes.” The letter is not legally binding, but it can serve as a guide. If the trust is revocable, the “letter of wishes” can be changed or updated as needed.

 

What types of assets can be assigned to a Trust?

Trusts can hold assets that include:

  • Bank accounts.
  • Brokerage and investment accounts.
  • Real property (a house, land, etc.).
  • Shares in companies.
  • Intellectual property (trademarks, patents, etc.)

 

*  StateTrust does not provide fiduciary or trustee services, nor does it act as a fiduciary or trustee.  StateTrust only serves as an intermediary in providing introductions to legal counsel and licensed trust companies that can provide fiduciary and trust services.  Our services consist of managing the assets held in such trusts and legal entities.