Trust Solutions & Services

What do you do when your successor trustee becomes your trustee, but does not want the job?


The beneficiary of an irrevocable trust encountered this exact situation. Their trustee passed away transitioning trustee duties to the successor trustee. The successor trustee, being a retiree at age 70, did not want this responsibility, leaving the beneficiary to find a new trustee. As a result, the beneficiary began discussions with their attorney and our office, Monte Trust Services, to explore alternatives. They did not want this type of situation to arise again. As a Trust Representative Office of National Advisors Trust Company, FSB (“NATC”), we introduced several ways NATC could assist in providing a solution that met the beneficiary’s needs. The end result was Monte Trust Services coordinated the efforts between NATC Trust Counsel and the beneficiary’s attorney to appoint NATC as administrative trustee and continue with Monte Financial Group, LLC as the Investment Manager.

In summary, the responsibilities of being a trustee can be overwhelming for some individuals, so for our client, introducing the idea of a corporate trustee like NATC was a great solution for them. In their case, the grantors of the trust, prior to their death, had not reviewed their trust documents for many years and never confirmed their successor trustee would still accept the role. This left the beneficiary with a very involved process of appointing a new trustee. This situation is not uncommon as oftentimes trust documents are drafted and filed away for many years without review. Can you recall who your successor trustee is? If you would like additional information regarding Monte Trust Services, please call our office and we will send you a Monte Trust Services brochure and a complimentary TrustConnection newsletter which outlines the considerations of choosing the right trustee for your unique situation. Building a Strong Foundation As a Trust Representative Office of NATC, Monte Trust Services provides trust solutions for clients whose financial, family, or business needs require the services of a professional fiduciary. In this arrangement, the client maintains the relationship with their financial advisor and other professional relationships while benefiting from the services of NATC, a Federally Chartered Trust Company.

Our Team
Monte Trust Services
  • Oversees the client/estate planning professional/investment advisor/trustee relationship
  • Facilitates the needs of the client to NATC and ensures quality communication
    Monte Financial Group, LLC
  • Manages investments in accordance with the trust document while incorporating tax and estate
    planning strategies with the client’s attorney, CPA and other trusted advisers
  • National Advisors Trust Company, FSB
  • Trust Administration: Performs duties as outlined in the trust document, bill payment, P&I
    accounting, trust style statements, omnibus custody
  • Agent for the Trustee: Trust officer support, trust style statements, P&I accounting, omnibus custody
  • Advisors Custody: Omnibus custody, income collection from securities, settlement of securities
    trades as directed, payment of funds when directed, P&I accounting, timely statement delivery
About Monte Trust Services

Monte Trust Services is a division of Monte Financial Group, LLC and a Trust Representative Office of National Advisors Trust
Company, FSB; a nationally chartered trust company providing a full suite of trust solutions.

About Monte Financial Group, LLC

Monte Financial Group is a fee only SEC Registered Investment Advisor providing wealth management strategies and
ongoing investment management tailored to the unique financial needs of individuals and families.
www.montefinancialgroup.com

About National Advisors Trust Company, FSB

National Advisors Trust is federally chartered and is authorized to do business in all 50 states. Founded in 2001, NATC
is the largest independent trust company in the U.S. owned by Registered Investment Advisors, with over $10 billion in
assets under administration.

 

Information provided is general and for informational purposes only. It should not be construed as a testimonial. It is not intended
to be, and should not be construed or implied as accounting, financial, investment, legal, tax or other professional advice or
services. Monte Financial Group, LLC does not provide legal or tax advice. This newsletter carries no official authority and its
contents should not be acted upon without professional advice. Monte Financial Group, LLC has presented this information based
on sources believed to be reliable but we do not guarantee their accuracy. Monte Financial Group, LLC is an independent company.

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