Trust Settlement Service
This service includes the settlement of estates for personal representatives and executors
Problem: Few trustees have the time, interest or experience to efficiently administer the settlement of a trust or estate.
Solution: Anodos helps trustees settle the trust in less time, with lower fees and at a reduced risk. Our goal is to settle the trust in half the time and half the cost then could be done without our support. We specialize in doing this work.
What's Included
Task List: We develop and maintain a comprehensive and detailed task list of all activities of the settlement through Microsoft Projects.
Progress Review: We hold Bi-monthly short phone calls (15-20 minutes) with the trustee to report on the progress and completion of the assigned tasks.
Monthly Reporting: We provide a monthly written report to the settlement team (Trustee, Attorney, CPA) on the progress of the settlement with particular emphasis on the tasks that are “stuck” and need attention.
Governance Reporting: As a governance expert we provide reports and documents for the administration which include, but are not limited to, the (1) the date of death balance sheet, (2) a trustee compensation recommendation, (3) Investment Policy Statement for the liquid investment assets, (4) detailed exhibits for the production of the 706 when needed and (5) the production of the annual account for the trust beneficiaries.
Online Vault: Anodos maintains an online vault in which all critical documents, communications, exhibits and other supporting work product are stored securely.
Service Providers: Where the trustee does not currently have support from service providers – bookkeepers, appraisers, asset inventory managers, locksmiths, rubbish removal, brokerage services, et cetera – Anodos will find reputable local candidates for the trustee consideration.
Simple Pricing
The fixed fee for the Trust Settlement Service is $2,000 per $1.0m of trust assets. This fee is paid by the trust and does not reduce the compensation paid to the trustee which is usually 2-3x the Anodos fee. For trusts valued at more than $25m our fee is typically reduced.
Not only does this firm understand the fiduciary duty issues thoroughly; they are enormously helpful in applying the standards of care to a particular situation. Perhaps most helpful is their willingness to accommodate our schedule. Overall a very positive experience and an excellent work product.
Scott S.
Esq. and Trustee
I had a nagging feeling that the investment manager the prior trustee was using wasn't very good, but I could never prove it. It was helpful to have Anodos do a thorough, independent review of the facts.
Greg H.
CPA and Trustee
My attorney didn’t know the answers to my questions. And the referral from my attorney didn’t know the answers. But the Anodos team had an intimate understanding of the investment, tax and governance issues I was facing as a trustee.
Gilbert F.
Trustee
Helpful Stuff
Link to article
Link to checklist
Link to Video
Schedule a free consultation
Wondering if our Investment Governance Service is right for you? Schedule a conversation to discuss your unique situation.