Welcome, to a new and different kind of Trust Company. Serving Individuals, Families, Business Owners and Professional Advisors

Transcription

1 Welcome, to a new and different kind of Trust Company. Serving Individuals, Families, Business Owners and Professional Advisors

2 President s Message Summit Trust Company is based upon what we have learned over the past 20 years working with professionals in the fields of law, investments, insurance, accounting and compliance with the rules governing Broker/Dealers, Investment Advisors and Estate Planning Attorneys. I believe that you will find Summit to be what you think a Trust Company should be a place where professional advisors and customers are greeted by name, treated with respect and appreciation, and provided superior trust and financial services by experienced professionals in a pleasant environment. We offer specialized estate planning, charitable planning, gift administration services, and an extremely broad array of IRA Services, in addition to asset management and conventional trust services. Our entire platform of services has been designed to serve professional advisors and their clientele. Because of its unique regulatory and legal climate, Nevada is the State of choice by many professionals for forming trusts and corporations. Summit Trust Company offers Nevada residents and non-residents alike access to Nevada-based services, including Trusts, custody and investment services, so they can take advantage of Nevada s liberal body of trust, corporate and tax law. We invite you to explore the substantial Trust Services section of our website, for more detailed information. You will also find that we provide the most expansive IRA Custodian services available in the industry. We have many clients who choose Summit because they want to hold investment real estate, closely held businesses, charitable bonds and notes, and initial public offerings, as well as private offerings and notes, in their IRA accounts. In addition, our charitable administration services include establishing and administering family foundations, charitable remainder trusts of all types, and special planned giving administration services for large and small charities. We also administer charitable installment purchases, charitable family limited partnerships and Limited Liability Companies. Sincerely, Kevin C. Brown, President

3 World Class Asset Management INVESTMENTS AND ASSET MANAGEMENT Our Asset Management Department provides fiduciary, agency and investment services for professional advisors to manage the investment portfolios for individuals, families, corporations, and institutions that seek to take advantage of Nevada s unique laws. Our professional advisor clients benefit from a Nevada financial institution that provides a high-level of client service delivered by experienced professionals. Summit Trust Company provides solutions to customers needs in a flexible and cost efficient manner. Trusts Utilizing a Separate Investment Advisor Nevada trust law has recognized the ability to delegate the investment responsibility in a trust arrangement. Most trustees in other states require that they be involved in all investment decisions. Summit Trust Company provides the facility for directed trust arrangements where an individual or a family desires to work with a trusted investment advisor but where a trust would be useful from a planning perspective. Unlike many jurisdictions Nevada law permits the freedom to invest in higher risk assets if the trustee determines that including such securities would help meet the trust s overall investment objectives. The trustee may take into consideration the risk level of the entire portfolio, the anticipated life of the trust, the tax ramifications of an investment, the needs of the beneficiaries, and general economic conditions. Modern Portfolio Therapy For clients and advisors who wish to take advantage of an investment strategy called Modern Portfolio Theory, Summit Trust Company offers several unique strategies aimed at managing diversification and risk. Be sure to visit our website at and look at the DFA Portfolios. Summit Trust Company s Nevada location, fiduciary experience and professional, capable staff are a resource that can be used by individuals, families and their advisors to implement a successful directed trust arrangement. All assets are held in custody by the Summit Trust Company, which is a Nevada chartered institution. Summit Trust Company has a proven record of delivering the highest quality custodial services. Summit Trust Company also offers common trust funds and collective investment funds for personal trusts, estates, pension, and other Erisa plans. Qualified Retirement Plans Summit Trust Company offers a full range of Qualified Retirement Plan Administration. We provide plan consulting, document design, investment option planning and administration services. Summit Trust combines technical expertise, experience and technology capabilities to provide services to our pension and profit sharing plan clients. We are able to serve clients with participants numbering 1 to 3,500. Among the various types of plans available are the following: Defined Benefit Plans Cash Balance Pension Plans Defined Contribution Plans Profit-Sharing Plans 401(k) Plans Money Purchase Plans 412i Plans SEP

4 CHARITABLE ADMINISTRATION Summit Trust Company provides charitable administration for Individuals, Families and Charitable Organizations. We provide a total and comprehensive vehicle for providing income and for building an endowment for funding operating programs. Virtually all of the necessary resources are available under one umbrella, and can be assembled to suit the particular goals and objectives of the sponsoring organization. We wish to serve the needs of both high networth donors as well as those of moderate wealth. Our platform for this package is built to handle an unlimited number of accounts under administration. Without this, you would be playing in the same arena as everyone else, finding individual administrators to suit each case, which is frustrating and cumbersome, and very expensive. We offer full administration of Charitable Remainder Trusts, Charitable Lead Trusts, Charitable Gift Annuities, Charitable Installment Purchases, Pooled Income Funds, Donor Advised Funds, Endowment Funds and Supporting Organizations, with online donor access to account balances, where appropriate. You get a team of legal and planning experts in the package, which can be used for program development, implementation, and training of your personnel, seminar presentations and closing interviews. You will also receive complete illustration services for proposals to donors, available by , backed by a team of consultants available by telephone or for case development and support. We will help any charity set up its own Donor Advised Funds/Foundation/Charity so that it will be able to offer virtually all of the planned giving programs to each of their donors. We will tailor a program to suit your particular goals. For a full range of personal and business trust services, visit Summit offers Trust Services of all kinds. IRA plans to suit your investment needs, and a wide variety of Estate Planning techniques.

5 TRUST SERVICES Because of its unique regulatory and legal climate, Nevada has become the State of choice for forming Trusts. We offer Nevada residents, and non-residents alike, access to Nevada-based services, including trusts, custody and investment management services, so they can take advantage of Nevada s liberal body of trust, corporate and tax law. Clients benefit from experienced administration, superior personal service and the ability to make important decisions onsite unlike other institutions that require approvals for actions from committees that take time for decisions. In addition to our unique approach to working with professional advisors on investment management, Summit Trust Company offers individuals and families a variety of trust, custody, and other asset management services. Carefully implemented trust and asset management strategies can be instrumental in providing for the continued well being of individuals and their families. However, a trust s effectiveness depends greatly on the ability of the trustee. When Summit Trust Company is chosen to serve as trustee, it does so in a personal and experienced manner that s tailored to meet each client s requirements and expectations. We review the client s needs; learn about his or her specific family situation, tax status, and ability to tolerate investment risk and any other particular requirements. Working with the client s trusted advisors, we provide the facilities to implement a strategy that will meet the client s needs and objectives. Law to Allow 365-Year Dynasty Trusts in Nevada The Governor of Nevada officially signed into law the bill which will allow both residents and non-residents of Nevada to set up dynasty trusts under Nevada law that are protected from estate taxes, creditors and divorce for 365 years. The law is effective for trusts that became effective on or after October 1, This is the most significant development in Nevada law since laws were passed in 2001 (modifications were made in 2003) making the charging order the exclusive remedy of a judgment creditor for all Nevada limited liability companies and limited partnerships. This makes Nevada the leading asset protection jurisdiction for such entities in the United States. Please contact us for details, and let your professional advisors know that Nevada has the most comprehensive array of Trust Services for individuals, families, business owners, professionals and charities available in the entire country. We recognize that many individuals do not have a full understanding of their trust and investment options. Many firms are not using the approach we follow. We are an organization staffed by experienced, knowledgeable and caring professionals committed to personal service. We work closely with our clients and their other professional advisors through every step of the process as we facilitate and help implement an effective financial management program.

6 The client s ability to implement beneficial strategies is considerably enhanced by Nevada law. A trust created in Nevada may enjoy the following advantages: Privacy Many jurisdictions require that trust arrangements be filed with a court. Moreover, trustees must render periodic court accountings. Unlike those states, where information about a person s trust becomes a matter of public record, Nevada courts rarely become involved in trust affairs. Asset Preservation A Nevada trust can be structured so that assets are protected from the reach of creditors even with the settlor retaining an interest in the trust. The enabling statute was designed to provide an alternative to offshore trusts while taking advantage of Nevada s stability and unique legal system. It is one of the few states to recognize such arrangements. Investment Flexibility Nevada law permits the freedom to include higher risk assets, such as foreign equities or stock options, in a trust portfolio if the trustee determines that including such securities would help meet the trust s overall investment objectives. In making investment decisions, a Nevada trust permits the consideration of the anticipated life of the trust, the tax ramifications of an investment, the needs of beneficiaries, and general economic conditions. Directed Trusts Summit Trust Company offers directed trusts for those clients who wish to work with a trusted investment advisor but want to use a trust in their planning strategy. We provide the fiduciary services necessary to ensure that the trust operates smoothly. Tax Advantages A trust established in Nevada does not have to pay Nevada income taxes. Similarly, non-resident beneficiaries do not pay state tax on trust income. There often may be other tax benefits associated with a Nevada trust. Trust Services For Individuals & Families Asset Preservation Trusts Charitable Remainder Trusts Charitable Lead Trusts Living Trusts Life Insurance Trusts Special Needs Trusts Rabbi & Secular Trusts Wealth Replacement Trusts Defective Grantor Trusts

7 Plan on the future. TO OUR CURRENT AND PROSPECTIVE CLIENTS, As the founder of Summit Trust, I believe that professionals in financial services, attorneys, accountants, insurance counselors and others in the field need to be served by a trust company that understands their needs. I have worked for 20 years in all of the capacities that have prepared me to serve professional advisors with the optimum in trust services. Kevin C. Brown, President Some of my personal experience includes: Chief operating officer and chief compliance officer for an NASD Registered Broker/Dealer. (American Preferred Securities, Inc., was a NASD Registered Broker/Dealer, formed in 1982, which I joined in In 1990 the firm negotiated to transfer its accounts to Multi-Financial Securities, Inc., a larger Broker/Dealer, in exchange for becoming a branch office of supervisory jurisdiction (OSJ) for the new broker/dealer. The firm then withdrew from membership in the NASD.) I have run a life insurance agency, I was a cofounder and executive director of the Trust Counselors Network, Inc., a not-for profit 501(c)(3) for attorneys and financial advisors to learn about trusts and estates. I have been CEO of a company to administer charitable trusts and gift annuities for charities, and have acted as trustee for many of these trusts, as well as for many revocable living trusts and irrevocable living trusts. I have been COO of what was then an SEC Registered Investment Advisory firm, Brown Investment Advisors, Inc., formed in 1985, which is now a Pennsylvania Registered Investment Advisor. I have also dealt extensively in the realm of Asset Protection Planning, with Trusts and other asset protection vehicles. We have on staff a group of seasoned banking and financial services professionals and business leaders. Our philosophy is based on providing superior service and unparalleled accessibility to decision-makers. See our website for a listing of our professional staff at "Summit Trust really understood my goals and helped me reach them quickly. Satisfied Customer, Nashville, TN We are not a conventional Trust Company. Our trust officers use carefully implemented trust and asset management strategies to assist in the creation and preservation of family wealth. We customize your investment management strategy by first understanding your goals and working closely with your investment advisors to formulate the best possible program for you. Our customers tell us we represent Trust Services the way it should be. They tell us we are a refreshing change from other trust companies. We invite you to explore our website Learn about how we may serve you. If Summit Trust Company sounds like your kind of Trust Company, we invite you to join us.

8 IRA SERVICES SUMMIT TRUST COMPANY is a Nevada chartered trust company and custodian of retirement plans, focusing on the administration of self-directed IRAs including those invested in non-traded assets. All IRA transactions performed by SUMMIT TRUST COMPANY are at the direction of the account holder and/or their agent. SUMMIT TRUST COMPANY s custodial services are designed to support the individual, who (with or without a broker/advisor) wants the flexibility to direct and diversify their holdings beyond publicly available investment choices. SUMMIT supports the following types of IRAs at the present time: Contributory IRA (Traditional IRA) Rollover IRA SEP IRA Spousal IRA Stretch IRA TIAA CREF IRA Roth IRA Charitable IRA Real Estate IRA Closely Held Business IRA SUMMIT TRUST COMPANY functions primarily as a passive IRA custodian. SUMMIT does not provide investment advice, nor do we sell investments to our clients. Rather, our clients self-direct their own accounts by choosing their own investments or advisors, and are, therefore, responsible for those decisions. SUMMIT does, however provide clients with tremendous flexibility in choosing different types of investments and any number of investments within an IRA. It is hoped that SUMMIT clients will take full advantage of this flexibility to diversify their accounts and maximize long-term gains. SUMMIT will manage selected accounts by choosing outside money managers when requested. LAS VEGAS OFFICE 8861 West Sahara Ave. Suite 215 Las Vegas, NV Fax MARKETING OFFICE P.O. Box Bethlehem Pike, Ste. 1 Colmar, PA Fax info@summittrust.com WEB If a client wants a fully Passively Managed program, we recommend that you review our program for the Dimensional Fund Advisors ( DFA ) Program or the International ETF Portfolio, by visiting our website.