CHARITABLE TRUST
CTAC offers complete trust administration services regardless of the assets used to fund the trust. These can be, but are not limited to: family limited partnerships, annuities, real estate, tangible personal property, and closely held stock.
OPERATIONAL SERVICES
- Monitor and adjust trust distributions based on trust provisions, asset valuations and additional contributions
- Obtain and record trust financial transactions received from investment managers
- Review all investment transactions for accuracy and IRS compliance
- Determine tax character of each financial transaction
- Determine allocation of trust earnings to principal and income based on trust provisions and applicable accounting rules
- Request and coordinate the receipt of the distribution amount to be paid to trust beneficiaries by the investment managers
- Monitor cash position of trust for payout purposes and transmit trust distributions to beneficiaries
- Secure all accounting records pertaining to the trust
- Monitor opportunities for beneficial financial and tax planning made possible by the trust provisions and trust investment performance
CLIENT COMMUNICATION
External communication provided to all authorized persons:
- Trust valuation report
- Report on projected versus actual trust beneficiary annual distributions
- Summary accounting of trust activity, including receipts (by tax character of income), disbursements attributable to the trust amounts, expenses, capital losses, and the unrealized appreciation in the market value of assets
- Internal communication for the trustee's internal auditing purposes
- A report of all transactions the trust completed in any year
WEBSITE ACCESS
- Access quarterly reports and relevant correspondence
TRUST FEDERAL, STATE & ATTORNEY GENERAL REPORTING SERVICES
Preparation of filing of the following documents, if applicable:
- IRS Form SS-4
- Form 1041 and supplemental schedules
- Form 4720
- Form 5227 and supplemental schedules
- Form 8282
- Form 8283 (for publicly traded securities only)
- Schedule K-1 and supplemental schedules
- Required state tax forms and schedules
- Relevant Attorney General filings
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