Revocable, Irrevocable and Testamentary Trust Administration

Revocable Living Trust

An "inter vivos" or "living trust" is drafted, set-up and then funded during your lifetime.  The living trust is a fully revocable grantor trust that can be revoked, altered and updated at anytime during your lifetime.  The living trust becomes irrevocable upon your death. 

Your assets are transferred into the trust ("funding the trust") by transferring or conveying your assets to the Trustee of your living trust.  You and/or your spouse will generally serve as your own Trustee of your living trust.  You would name a Successor Trustee to administer your living trust upon your death. 

The Successor Trustee should be someone that you are comfortable with and trust.  It can be an individual such as another family member or a "professional trustee."  It is generally advisable, for many reasons, to enlist the services of a professional trustee, such as Exeter Fiduciary Services, LLC.  The professional trustee will ensure that the terms of your living trust are carried out as instructed, that your living trust is administered in a professional and caring manner and will relieve your family members of the stress, frustration and pressure in dealing with the rest of the family. 

Testamentary Trust

A testamentary trust is established through the provisions of your Last Will and Testament.  You would also designate the Trustee of your testamentary trust through your Will.  The comments above regarding selection of a Trustee apply to testamentary trusts as well.  

Your testamentary trust does not become active until your death.  Your testamentary trust will be "funded" at your death by transferring or conveying your assets into your testamentary trust.  Your testamentary trust will then be administered according to your instructions contained in your Last Will and Testament.

Title Holding Trusts or Land Trusts

A Title Holding Trust or Land Trust is a fully revocable grantor trust designed and written specifically to acquire, hold, manage and ultimately dispose of real estate or personal property on a confidential or private basis in order to minimize risk.

Trust Accounting and Recordkeeping Services

We can assist you with and take care of the following:

• Custody, safekeeping and recordkeeping of assets
• Collection and distribution of income and capital
• Comprehensive monthly reporting to trustors and beneficiaries
• Maintenance of personal financial records

Our trust administration services includes complete custodial, safekeeping, recordkeeping and trust accounting for investments held in your trust account. 

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