FAQ

Premier Trust is chartered and incorporated in Nevada. It is under state law that we are authorized to act as a trust company. Clients nationwide are able to take advantage of the Nevada statutes by working with us.

No.

Premier Trust offers personal trust services for clients of attorneys, CPA’s, brokers, registered investment professionals, investment managers, financial planners, third-party administrators, and financial management firms. Premier Trust does not offer investment management services or sell investment products. Our advisor partners manage the investment of their client’s trust assets. While as a Fiduciary we do provide investment oversight, we typically act as a directed trustee. This is very different from traditional banks and trust companies that typically require that the trust assets be managed by them.

Yes. Nevada has no state personal or fiduciary income tax or capital gains tax for irrevocable trusts. Also, Nevada offers strong client asset-protection and limited liability company laws.

No. Our services are independent of any investment firm. We can work with the financial professional of your choice.

Yes. Please contact your trust officer or email your request to info@premiertrust.com.

Once Premier Trust has gathered all the necessary forms from outside sources, we provide the information to the appropriate tax preparer to prepare the trust tax return.

We have a very competitive fee structure that is based on either the value of the trust or a flat fee, depending on the type of trust asset structure and relationship you have with Premier.

Yes.

Premier Trust requires a copy of the trust document for review prior to accepting any trusteeship. You may forward a copy to us at info@premiertrust.com or fax to (702)507-0750.

Yes. As long as the trust document does not require the Trustee to reside or be licensed in a jurisdiction other than Nevada.

No. Premier Trust can handle cash transactions for trust accounts without opening a separate bank account. If you and your attorney determine a separate checking account is desirable, Premier Trust prefers a family trustee, trust protector, or someone other than Premier Trust as the signor on the account.

All accounts are reviewed within 60 days of acceptance. If Premier Trust has any investment discretion the account is reviewed annually. If Premier Trust has no investment discretion the account is reviewed every two years. The review is conducted by the trust officer assigned to the account and is reviewed by our Trust Administrative Committee (TAC).

Yes. Premier Trust can serve as Trustee of an ILIT without requiring any additional trust business.

Premier Trust can serve as trustee for virtually any personal trust, including the various kinds of charitable trusts. Our veteran trust professionals have a high degree of administrative expertise in all aspects of charitable trusts and private foundations.

You will need to complete:

• W-9 Form – Completed by the “grantor(s)” and any current beneficiary(ies)
• PIF (Personal Information Form) – One form must be completed and signed by each; Grantor, Family Trustee, Co-trustee, Trust Protector or Distribution Trustee. Form must also be notarized and returned to Premier Trust in an original form.
• Copy of driver’s license or government ID for each of the above.
• Copies of all Trust Documents (ie Trusts, Applicable amendments)
• Contact Information for anyone listed in the trust (ie trustee(s), co-trustee(s))

Traditional IRAs are limited to investments in bonds, mutual funds and stocks. Self-directed IRAs are specialized accounts that allow their holders to invest in anything except (see the list below) that would personally benefit them or a close family member as restricted by the IRS.

In this instance, it is easier to tell you what assets you cannot hold in a self-directed IRA:

• Collectibles (including works of art, rugs, antiques)
• Metals other than gold, silver and palladium bullion
• Gems
• Stamps
• Coins (except certain U.S.-minted coins)
• Alcoholic beverages, and other tangible personal property as may be defined by the Secretary of the Treasury is prohibited.

**Please refer to IRS Publication 590 for more information. If you have questions regarding what assets you would like to invest in with your IRA, please contact us.

Certain types of self-directed transactions violate the basic intent of your individual retirement account, and may subject cause your account to incur penalties and/or taxes. Your IRA is intended to benefit you when you retire and not before. Transactions that can be interpreted as providing immediate financial gain to the account holder or other disqualified persons are not allowed. For example, an IRA holder may not:

• Receive unreasonable compensation for managing property held by the IRA
• Use the IRA as security for a loan
• Transfer plan income or assets to disqualified persons
• Lend IRA money to disqualified persons
• Borrow money from the individual retirement account
• Sell, exchange or lease property to their IRA
• Extend credit on their IRA to disqualified persons
• Furnish goods, services, or facilities to disqualified persons
• Allow fiduciaries to obtain or use the plan’s income or assets for their own interest

For IRAs or 401(k)s, a disqualified person is:

• The IRA holder and his or her spouse
• The IRA holder’s lineal descendants, ascendants and their spouses
• Anyone providing services to the IRA, such as the trustee or custodian (See IRS Section 4975 for a complete list of prohibited parties credentials)
• Investment advisers and managers
• Any corporation, partnership, trust, or estate in which the IRA holder has a 50 percent or greater interest

Premier Trust, Inc. does not offer investment, tax, financial or legal advice to clients. Individuals who believe they need advice should consult with the appropriate professional(s) licensed in that area.