Monthly Update for Administration of Trusts and Asset Management

September, 2024

THE MULTIPLE ROLES OF YOUR TRUSTEE 
What is a Trustee?  A trustee holds property for the benefit of another.  Seems simple enough.  However, that property isn’t only held; rather, it is invested and distributed according to specific instructions contained in the trust agreement.  You, as the creator or grantor of the trust, decide how much authority you want to give your trustee, whether broad or limited.

When you name WealthTrust Oklahoma as trustee, we serve in a number of capacities on your behalf.

PLANNER
We start by finding out the purpose of your trust.  Some people set up a trust to take care of their investments and direct the disposition of said assets upon their incapacity or passing.  Others may set up a trust to go into effect only if a predetermined event occurs.  Some set up a trust to provide for a disabled child or relative.  Whatever your needs, our trust professionals and your attorney can help you design a trust to meet those needs. 

ADMINISTRATOR
Once your trust is established, funded and our role as trustee begins, it is our responsibility to carry out the terms of the trust. Occasionally, there are challenges with the administration of the trust, depending on the terms, but generally speaking, it will run pretty smoothly.

INVESTMENT ADVISOR
When the time comes for investment decisions to be made about the assets in your trust, we 
will do one of two things.  During your lifetime, if you’ve given us full investment discretion over your trust, we will make decisions for you based on your investment guidelines and risk tolerance.  Our decisions will also be based on investment research and market data. After your passing, we will work with your beneficiaries, taking into account their needs, while following the terms of the trust, when creating an investment portfolio for them. 

TAX SPECIALIST 
Tax aspects of a trust can be overwhelmingly for an individual trustee, especially if he or she is inexperienced in tax matters.  We have experienced professionals who can anticipate, prepare for and help manage income and estate tax issues. 

When serving as trustee, it is also one of our responsibilities to prepare the income tax returns for your trust. 

BOOKKEEPER
We will make sure that all trust records are thorough and kept up to date.  Not only do we keep records, but we will execute buy and sell trade orders, collect the investment income, and deposit, disburse, or reinvest that income as your trust directs. 

We also will provide periodic statements, whether monthly or quarterly, and whether electronic or paper. 

SECURITY GUARD
We will see to it that your trust assets are protected by providing safekeeping for your securities. 

Your assets will be kept separate from other client assets.  We do not pledge your trust assets. 

Unlike an individual trustee, we do not move away, pass away or get distracted with personal matters.  We are a part of the community and are not going anywhere.

CONCLUSION
If you need help updating your current estate plan, we can help.  Our experienced professionals can suggest effective strategies for achieving your planning goals.  We do not draft documents and if you do not already have an attorney as a part of your trusted advisor team, we can help with that as well.   Please contact us if you would like to discuss. 

WealthTrust Oklahoma is the Oklahoma Trust representative office of National Advisors Trust Company. We are independent and hold a federal charter.  In addition to trust administration services, we offer investment management services through our firm, WTO Advisors

Alyssa Kaiser, CTFA, has over 31 years of experience in the trust, investment, and banking industries and is President of WealthTrust Oklahoma and WTO Advisors.  Alyssa may be contacted at: (405) 241-1600, or by email at Alyssa@WealthTrustOk.com