Trust Company Services. A Mariner Wealth Advisors company MARINER TRUST COMPANY

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1 Trust Company Services

2 Utilizing Mariner Trust Company, we are able to provide enhanced trust and estate planning services through your existing advisory team, with competitive fees and exceptional service to our clients Mariner Trust Company is:»» A member of the Mariner Wealth Advisors family of companies»» Chartered in South Dakota, the #1 rated jurisdiction in the United States for trust companies

3 About Mariner Trust Company The mission of Mariner Trust Company is to support wealth advisors and their clients with independent, objective trust and custodial solutions. Service Mariner Trust Company sets the standard of excellence in trust services. Mariner Trust Company provides first-class trust services with professional attention delivered at favorable costs. The company is led by industry veterans with decades of experience providing personalized trust services to meet the diverse needs of a wide range of clients. Security Mariner Trust Company gives you the confidence of knowing your assets are protected by a South Dakota-chartered trust company. Mariner Trust Company is regulated by the South Dakota Banking Commission. By law, client assets are segregated from the capital assets of Mariner Trust Company and are not subject to potential creditor claims against the trust company. Trust As a member of the Mariner Wealth Advisors family of companies, Mariner Trust Company understands and respects your relationship with your financial advisor. We know your financial advisor has unique insight into your needs and expectations. We understand you prefer the professional guidance and confidentiality of your financial advisor and that you may be reluctant to involve a large, impersonal financial institution for trust services. That is why we work with you and your advisor to understand your goals and design solutions to help you achieve them. Because Mariner Trust Company was created by the founders of Mariner Wealth Advisors, for the benefit of Mariner s clients, we believe we are uniquely positioned to be your trusted source for trust solutions.

4 Types of Trusts Because we understand the need for personalized trust services to meet each client s particular objectives, we administer a wide range of trusts, including: Revocable Living Trusts Irrevocable Living Trusts or Trusts under Will Irrevocable Life Insurance Trusts Charitable Remainder Trusts Charitable Lead Trusts Intentionally Defective Grantor Trusts GRATs, GRITs and GRUTs Qualified Personal Residence Trusts Special Needs Trusts QTIP and QDOT Domestic Asset Protection Trusts Rabbi Trusts

5 Chartered in South Dakota We are often asked why Mariner Trust Company is chartered in South Dakota. The answer is simple we believe a South Dakota-chartered trust company provides the best solution for our clients. Due to the following reasons, South Dakota is the #1 rated jurisdiction in the United States for trust companies: South Dakota has the most trust company charters of any state in the country. Their courts are developing a solid base of common law trust decisions to guide trust administration. South Dakota levies no state income tax on any type of trust income. Many states levy taxes, in the highest bracket, on income from irrevocable trusts. South Dakota was one of the first states to repeal the ancient Rule against Perpetuities, which prohibited private non-charitable trusts from lasting more than three generations. This gives the grantor the ability to create a Dynasty Trust, which can last as long as there are trust assets and beneficiaries. South Dakota is very progressive on protection of trust assets from creditors. South Dakota was the first state to pass a Domestic Asset Protection Trust (DAPT) law. As a result, clients can create DAPT trusts to shelter assets from creditors for any reason. (South Dakota has a two-year statute of limitations on transfers in fraud of creditors.) The South Dakota courts have held that a DAPT, under which a grantor is entitled to discretionary distributions, has a limited power of appointment, or a remainder interest, and is not reachable by creditors, as none of the foregoing constitutes a property interest that is attachable by a creditor.

6 Appointment of Mariner Trust Company I nominate and appoint Mariner Trust Company, a South Dakota trust company, or its successors in interest, as Trustee of my Trust. Mariner Trust Company shall be compensated in accordance with its regularly published schedule of fees in effect at the time services are rendered. or Should the Trustee(s) fail or refuse to qualify, I nominate and appoint Mariner Trust Company, a South Dakota trust company, or its successors in interest, as Successor Trustee of my trust. Mariner Trust Company shall be compensated in accordance with its regularly published schedule of fees in effect at the time services are rendered. Directed Trust Language Grantor (Trustor) hereby appoints [Mariner Wealth Advisors / RiverPoint Capital Management / Adams Hall Wealth Advisors / Housen Financial Group] as investment trust advisor of this trust, under the laws of South Dakota, with respect to all investment decisions of trust assets. Grantor confers upon [Mariner Wealth Advisors / RiverPoint Capital Management / Adams Hall Wealth Advisors / Housen Financial Group] all powers and discretions enumerated in SDCL (South Dakota Codified Laws) Section 55-1B-10. Said decisions of [Mariner Wealth Advisors / RiverPoint Capital Management / Adams Hall Wealth Advisors / Housen Financial Group] shall be binding on the trustee and all other persons.

7 55-1B-10. Powers and discretions of investment trust advisor The powers and discretions of an investment trust advisor shall be provided in the trust instrument and may be exercised or not exercised, in the best interests of the trust, in the sole and absolute discretion of the investment advisor and are binding on any other person and any other interested party, fiduciary, and excluded fiduciary. Unless the terms of the governing instrument provide otherwise, the investment trust advisor has the power to perform the following: 1. Direct the trustee with respect to the retention, purchase, sale, or encumbrance of trust property and the investment and reinvestment of principal and income of the trust; 2. Vote proxies for securities held in trust; 3. Select one or more investment advisors, managers, or counselors, including the trustee, and delegate to them any of its powers; and 4. Direct the trustee with respect to any additional powers and discretions over investment and management of trust assets provided in the governing instrument.

8 Trust Management SCHEDULE OF FEES Mariner Trust Company provides professional trust services to meet your specific financial goals. Each client receives personalized management from an experienced team consisting of a trust officer and your Mariner Wealth Advisory team. Our goal is to ensure that the administration of an account complies with the terms of the trust agreement through appropriate fiduciary management. Annual Account administration Fee First $5,000,000:.250% Next $5,000,000:.200% Over $10,000,000: Negotiated Minimum annual account fee: $3,500 Set up fee: $1,500 Closely-held asset fee: Promissory notes: $500/asset $500/note Annual fees are applied at the applicable percentage of the market value of the account assets and are prorated and deducted from the account on a monthly basis. Please review the separate Fee Schedules for specialized services such as Mineral Management and Real Estate Management. When extraordinary services are required, our fee will include reasonable additional compensation and/or out-of-pocket expenses based upon the nature of the service and the extent of the duties and responsibilities assumed.

9 Irrevocable Life Insurance Trust SCHEDULE OF FEES Mariner Trust Company can serve as Trustee of your Irrevocable Life Insurance Trust. Mariner Trust Company s team, consisting of your Mariner Advisor and an experienced trust officer, will ensure that all requirements imposed by the IRS and mandated by the trust are complied with. Upon funding of the trust (death of the insured), we will collect and manage the life insurance proceeds and administer them as the trust directs. Annual charge: $1,500 Initial set-up fee: $1,000 Initial policy review: $250 Annual policy review: $100 Additional policies: $500/policy The fees quoted above compensate Mariner Trust Company for its customary administrative services. All fees are calculated and payable annually, in advance, commencing upon account opening. When the account holds assets other than life insurance policies, the published fee schedule for Trust Management Services shall apply to those assets.

10 Real Estate Services SCHEDULE OF FEES Mariner Trust Company has the ability to manage commercial, agricultural and residential real estate assets as part of your wealth and estate plan. Working with your Mariner Wealth advisor, the trust company will perform all services necessary to collect income, and maintain and liquidate these holdings, when necessary. Commercial and residential Income-producing property: Farm and ranch property (crop-share): Farm and ranch property (cash rent): Grantor/beneficiary occupied residence: Sales and Acquisitions (w/o broker): Sales and Acquisitions (with broker): Hourly rates for negotiation of surface damages and easements, surveys, estate inventory, and other extraordinary services: Out of pocket expenses: Trust Asset charge plus 5% of gross income Trust Asset charge plus 10% of gross income Trust Asset charge plus 5% of gross income No charge 5% of sales price 2% of sales price $200/hour Passed through to account The fees quoted above compensate Mariner Trust Company for real property management services and are calculated and charged separately from the Account Administration. All fees are deducted from account at the time income is collected or upon completion of services.

11 5 Compelling Reasons to use a Corporate Fiduciary Many important decisions regarding the transfer of your wealth are made when working with an estate planning attorney. However, one of the most critical is often made with little or no regard for the consequences: this is the choice of a successor trustee for your trusts. For an estate planning attorney, a common response to the question of successor trustee is, Oh, the kids can handle it. We don t want to pay any extra money to have someone else serve. This is not only short-sighted, but can also create significant problems after your death. It is a given that while you serve as your own trustee during your lifetime, little changes in the way you do business. You still continue to invest and spend your money as you desire. This situation drastically changes when a third-party assumes the duties of trustee after your resignation, incapacity or death. A fiduciary is charged with complying with a variety of laws that dictate how the trustee s duties must be performed. These include the Duty to Account, Prudent Investor Law and the Uniform Principal and Income Law. Unless your child happens to be a professional fiduciary, chances are that they are going to need expert advice to administer your trust. This leads us to the first compelling reason for choosing a corporate fiduciary: 1. Expertise. Corporate trust providers like Mariner Trust Company are in the business of administering trusts and estates. Consequently, we have all the expertise needed to effect the efficient, compliant administration of an estate or trust. Personal property inventory and auction, real estate appraisal and possible sale, preparation of required personal and fiduciary tax returns, expert investment management of assets, accounting to beneficiaries, and compliance with legal requirements can all be handled by professionals in the trust company. The average individual trustee would have to separately employ all of these people to achieve the same level of administration, thereby increasing the fees payable out of the estate or trust assets.

12 1. Unbiased neutrality. Corporate fiduciaries are compelled by law to administer trusts according to their terms. This includes no bias for or against any beneficiary. By having a neutral trustee making discretionary distribution decisions, you can remove any familial pressures from the equation, insuring that your wishes are carried out without regard to past interpersonal reactions. This also removes family pressures on the trustee to make or refrain from making a particular distribution. One way to keep the family history and personalities in place is to name a surviving spouse or other family member as co-trustee of the trust with the corporate fiduciary, the corporate trustee being solely responsible for discretionary distributions to the co-trustee family member. Most trust companies will serve as co-trustee with a family member. 2. Regulation and oversight. When you name an individual trustee, no one oversees the administration of the trust. The only way the beneficiaries can correct administrative errors or abuses is to sue the trustee for breach of trust. An individual trustee s personal assets may be subject to attachment after a judgment against them. Contrast that with a corporate trustee, who is highly regulated. For example, Mariner Trust Company is examined by the South Dakota Division of Banking. Internal auditors also scrutinize trust administration. Should an error be found, you have access to liability insurance to satisfy any judgment. 3. Sibling rivalry. No matter how well your children get along during your lifetime, it is my experience that the relations change after your death, particularly when you have named one sibling as trustee to make financial decisions for other siblings. An even worse scenario is to name multiple children as co-trustees, then requiring that all decisions regarding trust administration have to be unanimous. In this scenario, the only way to break deadlock among co-trustees is to obtain a court order. 4. Continuity. Naming an individual trustee always carries the attendant risk that they will become incapacitated or die during the administration of the trust or estate. This risk is avoided by naming a corporate fiduciary which lasts in perpetuity. These are some things to consider when naming a successor trustee for your trusts or a personal representative for your estate. It is a decision that should be made only after careful consideration of the consequences. For more information, please contact one of the trust officers at Mariner Trust Company or your Wealth Advisor.

13 Robert J. Swift, Jr., JD Senior Vice President of Trust and Estate Planning Phone: Robert J. (Bob) Swift is vice president of Trust and Estate Planning. An industry veteran with more than 25 years of experience, Bob leads the firm s efforts to deliver best-in-class trust services to its wealth planning clients. Prior to joining the firm, Bob was senior vice president and trust manager at Colorado State Bank. In that role, he was instrumental in enhancing the bank s position as Colorado s premium provider of fiduciary services. He also played a key role in growing the bank s assets under administration to more than $10 billion. Bob s trust experience also includes serving as executive vice president of wealth management at First Mid-Illinois Bank & Trust and as senior vice president and head of trust and financial services at Central Bank in Jefferson City, Missouri. Prior to entering the trust industry, Bob was a Marine JAG, performed private practice litigation and served as general counsel for the Missouri Department of Conservation. Bob has a bachelor s degree in English and art history from the University of Kansas and a juris doctorate from Southern Illinois University. He previously served as an adjunct professor for the William Woods University MBA program, as a faculty member of the Missouri School of Bank Management, and as an instructor at the Center for Financial Training Western States, Colorado. Bob is a licensed attorney in the state of Missouri, and a member of the Missouri Bar Association. He is also a member of the Missouri Bankers Association, and a past chairman and committee member of the MOKAN Midwest Trust Conference. Bob is also actively involved in many community organizations, including the Mattoon Rotary Club, Missouri and Jefferson City Jaycees, the United Way, the Jefferson City Chamber of Commerce, Big Brothers/Big Sisters of both Central Missouri and Denver, the Colorado Bankers Association Trust Peer Group, the Denver Boy Scout Council and the Northwest Coalition 4 Better Schools. About Mariner Trust Company Driven by the demands and unique needs of its affiliated advisor clients, Mariner Trust Company provides trust and estate planning solutions designed to solve clients multi-generational wealth transfer challenges. With services available to clients in all 50 states, Mariner Trust Company provides fiduciary and custodial solutions in a secure, reliable, transparent and efficient environment that reflects the firm s commitment to client service and leading industry knowledge. Mariner Trust Company 4200 West 115th Street, Suite 100 Leawood, KS 66211

14 Jadin S. Winberg, JD, LL.M. Vice President and Senior Trust Officer Phone: Jadin S. Winberg is vice president and senior trust officer at Mariner Trust Company. An experienced wealth management professional, Jadin utilizes his technical knowledge and expertise to evaluate complex tax and estate planning issues and provide exceptional solutions for Mariner Trust Company s clients and prospects. Jadin also coordinates and manages the trust administration handled through Mariner Trust Company s South Dakota office. Prior to joining Mariner Trust Company, Jadin spent eight years with UMB Private Wealth Management as vice president and trust advisor. In that role, he was a key advisor on a book of business totaling more than $200 million. Jadin advised high-net-worth clients on a wide range of estate planning, investment and tax considerations. He also administered trusts, probate estates and conservatorships for which UMB served as a fiduciary. Jadin gained significant experience handling the management and disposition of unique assets such as commercial real estate, farmland, closely held business interests, fine art and other personal property. Jadin s past experience also includes working for a boutique aviation law firm focused on structuring the acquisition, ownership and use of private aircraft and advising clients on federal and state tax issues surrounding proposed aircraft transactions. He also clerked for a Judge of the U.S. Bankruptcy Court, Western District of Missouri, where he provided legal research and analysis on various bankruptcy and procedural issues. About Mariner Trust Company Driven by the demands and unique needs of its affiliated advisor clients, Mariner Trust Company provides trust and estate planning solutions designed to solve clients multi-generational wealth transfer challenges. With services available to clients in all 50 states, Mariner Trust Company provides fiduciary and custodial solutions in a secure, reliable, transparent and efficient environment that reflects the firm s commitment to client service and leading industry knowledge. Jadin has a bachelor s degree in finance from the University of Missouri and is an honors graduate of Cannon Trust School. He also holds a juris doctorate and LL.M. in taxation from the University of Missouri Kansas City School of Law, and he was the recipient of the Myron E. Sildon Excellence in Tax and Estate Planning Award. Jadin is a licensed attorney in the state of Missouri, and is a member of the Missouri and Kansas City Metropolitan Bar Associations. Mariner Trust Company 4200 West 115th Street, Suite 100 Leawood, KS 66211

15 These informational materials are intended to provide and advise clients, prospects and advisors with guidance. The materials do not constitute, and should not be treated as, legal and/or tax advice regarding the use of any particular tax, trust or estate planning technique. Mariner Trust Company, LLC, South Dakota Trust Company, LLC and South Dakota Planning Company, LLC and any of their related entities and/or Holding Company do not assume responsibility for any individual s reliance on the written or oral information disseminated. Current strategies and techniques should be independently verified by the client s and/or prospect s legal and/or tax advisors before applying them to a particular fact situation and should be independently verified to determine both the tax and nontax consequences of using any particular tax, trust or estate planning technique. Mariner Wealth Advisors ( MWA ) is an SEC registered investment adviser with its principal place of business in the State of Kansas. MWA and its representatives are in compliance with the current registration and notice filing requirements imposed upon registered investment advisers by those states in which MWA maintains clients. MWA may only transact business in those states in which it is notice filed, or qualifies for an exemption or exclusion from notice filing requirements. Any subsequent, direct communication by MWA with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For additional information about MWA, including fees and services, please contact MWA or refer to the Investment Adviser Public Disclosure website ( Please read the disclosure statement carefully before you invest or send money. About Mariner Trust Company Driven by the demands and unique needs of its affiliated advisor clients, Mariner Trust Company provides trust and estate planning solutions designed to solve clients multi-generational wealth transfer challenges. With services available to clients in all 50 states, Mariner Trust Company provides fiduciary solutions in a secure, reliable, transparent and efficient environment that reflects the firm s commitment to client service and leading industry knowledge.