A Trustee Managed Banking Service is a very complicated structure which has evolved particularly keeping in mind the privacy of the trustees while ensuring that the beneficiaries and the settlor can maintain the desired control on the trust.
A trust managed banking service generally consists of three important components, (a) The Trust Company managing the Trust, (b) A Trading Company Formed by the Trust and controlled by the Trust Company (c) A demand deposit account opened by the Trading Company.
Employees or Associates of the company can then be granted minimum money withdrawal and control over the funds of the Trading Company in the Demand Deposit Account by providing Credit Cards linked to the Demand deposit Account. Brokerage accounts can also be opened linked with the Demand Deposit account to enable its usage for trading in securities or precious metals etc.
The Trustee Managed Banking services enable active management of the trust by and for its beneficiaries and also provide greater control and possibility to generate more resources by investment of the trust assets in newer assets.
Empire through its team of experts and connections with Licensed Trust Companies can provide you customised solutions based on your needs ensuring control over your assets and also their usage for generating maximum returns.
No designation has been made by the Texas Board of Legal Specialization for a Certificate of Special Competence in this area.