Trust and custodial services are available through National Advisors Trust Company a FSB for our clients who intend on leaving their assets in trust for their heirs and would like PacWest to remain as the investment advisor. National Advisors Trust was formed by more than 125 registered investment advisory firms specifically to provide lower cost, higher quality access to investment management services and trust administration.
National Advisors Trust is chartered as a federal savings bank and is able to do business in all fifty states. It is regulated by the Office of Thrift Supervision and is a member of the FDIC. Fidelity Investments and Sunguard Institutional Brokerage serve as sub-custodians to National Advisors Trust and clients’ assets are held at one of those two institutions.
Through National Advisors Trust Company, PacWest is able to deliver a full range of services including:
- Personal trusts (revocable or irrevocable)
- Charitable remainder and lead trusts
- Irrevocable life insurance trusts (ILIT)
What follows is a brief discussion about what a trust is and why you might want to have a corporate trustee.
What is a trust?
A trust is an arrangement in which one party (trustee) manages and is responsible for the assets to be used for the benefit of another party (beneficiary). The trust document is a contract that governs how the assets are to be managed and sets the conditions that determine when cash or other assets may be distributed from the trust. The person who receives the distributions from the trust is known as the beneficiary.
Why should I select a corporate trustee?
An individual or a corporation can serve as trustee for a trust. The advantage of having an individual serve as trustee include that this individual may have knowledge about the underlying personal circumstances and family dynamics. Also, individual trustees can often charge less than corporate trustees. However, the main disadvantage of having an individual trustee is that this individual usually lacks the knowledge and experience in the areas of recordkeeping, tax filing, investing, and legal matters that this role often requires. Also, it is sometimes easier for a corporate trustee to remain objective and perform their duties in the face of differing demands from the potential beneficiaries.
National Advisors Trust can serve as trustee or co-trustee of revocable trusts, irrevocable trusts, life insurance trusts, charitable trusts and foundations, and charitable remainder trusts.
National Advisors Trust Company, FSB (“National Advisors Trust”) is a wholly owned subsidiary of National Advisors Holdings, Inc., a Delaware Corporation. Grace Lau has a minority ownership interest in National Advisors Holdings, Inc. and owns less than a five percent (5%) ownership interest in the company.