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Transferring an Existing TrustAny trust can be moved to a new trustee. Trust beneficiaries frequently move their trusts to obtain more responsive and respectful service or take advantage of lower costs. By partnering with AST Capital Trust, you can play an important role in helping your client find a more customer-friendly trustee while you take over responsibility for day-to-day management of the trust’s assets.
We’ll help with the transfer.In some cases, transferring a trust to a new trustee is simpler than transferring an IRA. In other cases, the process may be much more involved, depending in part on how cooperative the existing trustee is in facilitating the transaction. Regardless, you can take comfort knowing AST Capital Trust will assist you and your client in making the transition.
Transferring can produce tax savings.Depending upon where your client’s trust is located, transferring it to AST Capital Trust could yield significant state income tax savings. Moving a trust’s situs outside your client’s home state could end that state’s ability to tax income and capital gains produced by the trust. Delaware, where AST Capital Trust is located, exacts no state taxes on assets held in trust for out-of-state beneficiaries.
Transferring also can enable better investment returns.In June 2001, Delaware passed a total return unitrust (TRU) statute allowing many net income trusts transferred from other jurisdictions to be managed for total return rather than income. Depending upon your client’s financial goals, this could result in substantially higher investment returns.
Call us today.If you would like our advice on moving an existing trust, please contact us to discuss your specific situation. We will respond promptly with information about how you can help transfer your client’s trust to AST Capital Trust.
Contact Us.
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