If you’ve been named as an individual trustee, it’s often considered an honor. However, you
now have significant responsibilities to the current and future beneficiaries of the trust,
which may feel overwhelming. Some of your duties as a trustee are to administer the trust
in accordance with the terms of the agreement, invest the trust assets, keep accurate
records, make sure the taxes are filed, and process distributions to beneficiaries. Plus, you
are responsible for managing the family dynamics of the trust beneficiaries.
One way to alleviate the pressures of your trust administration duties is to partner with a
corporate fiduciary in the capacity as an Agent for Trustee. Working with a corporate
fiduciary allows you access to professionals who have knowledge, experience, and
expertise in trust administration and investment management.
As a financial institution, Agent for Trustee is one of many roles Heartland Trust Company
provides to clients. We can assist and guide you in your role as trustee while you maintain
full control over the administration of the trust. We provide exceptional service to our clients
while maintaining impartiality.
As Agent for Trustee, we can:
- Manage family and beneficiary dynamics
- Review trust documents
- Oversee management and investment of trust assets (including farmland, real
estate, mineral interests, and other specialty assets)
- Provide record-keeping services including asset valuation, cash management, bill
payment, and disbursements to trust beneficiaries
- Offer trust accounting services (principal and income reporting)
- Prepare annual financial statements
- Provide beneficiaries with online access to account information
- Assist to gather fiduciary tax information, ensure the filing of tax returns, and
disburse tax information to the beneficiaries.
If you have been serving as an individual trustee and would like the guidance of
experienced professionals, contact us at 701.235.2002 or 877.333.3494. We will be happy
to review your trust document and share how we can best help you administer the trust.