Personal Trust Services
With billions of assets migrating to trusts, advisors like you face new challenges. Whether you are currently managing trust assets or looking to do so, we know many clients are looking for holistic wealth management solutions.
Schwab's Personal Trust Services offers you an easy way to manage your clients’ trust assets with a combination of trust expertise and knowledge, coupled with a single online system that provides maximum flexibility, control, and efficiency. We’ve created a comprehensive system that integrates trust accounting into our online custody and trading system, schwabadvisorcenter.com. Our trust offering includes administrative/corporate trustee services as well as support for individual trustees.
Take advantage of the growing trust market with our Administrative Trustee Services1
Easily manage personal trust assets for clients who require a corporate trustee with the administrative trustee services from Charles Schwab Trust Company of Delaware (CSTCD). You retain all investment management responsibilities for assets of eligible trusts, while CSTCD offers cost-efficient support by performing the fiduciary administrative duties for the trust.
When you work with CSTCD, you and your clients benefit. Take advantage of:
- Collaborative thinking—Consult with CSTCD’s knowledgeable, professional trust officers, and offer your clients an enhanced level of experienced service.
- Professional knowledge—CSTCD has the expertise to administer the complexities of a trust.
- Administrative objectivity—Having an objective, corporate professional fiduciary serve as trustee instead of an individual family member can avoid potential conflicts in trust administration.
CSTCD, as administrative trustee, handles a range of day-to-day responsibilities, freeing you to focus on asset management, client retention, and growth strategies. Fiduciary administrative tasks include:
- Income and principal distributions, made according to the trust document
- Accounting and recordkeeping of all trust activity
- Preparation and filing of federal and state taxes
- Monthly reporting, detailing all trust assets and activity, for you and your clients
Let Personal Trust Reporting Services handle the details
As a separate service, Personal Trust Reporting Services (PTRS) delivers trust accounting and back-office support, including principal and income trust reporting and recordkeeping. This service offers a single, fully integrated trust accounting and trading platform for trust and non-trust assets.
PTRS provides trust accounting functions, including:
- Detailed trust accounting, including automated separation of principal and income
- Payment of scheduled disbursements to beneficiaries and third parties (calculated and fixed), upon trustee direction
- Ability to process disbursements online and to code personal trust related principal and income, tax information, and comments for the transaction
- Trust accounting reports, including a brokerage statement with supplemental trust reporting and a separate Trust Report
- Tax worksheets for trustees or tax preparers with complete trust tax and expense reporting, supplementing the brokerage 1099
- Recordkeeping of personal tangible and intangible property owned by the trust and not held at Schwab (e.g. real estate, collectibles, LP interests, etc.)
- Optional trust tax preparation services, for an additional fee
PTRS is supported through your Advisor Services Service Team, who is backed by our dedicated trust operations team.
Transfer an existing trust
Review this fact sheet to learn more about the typical steps involved in moving an existing trust.
Learn more about our trust services
Visit the Service Guide for more information.
Contact us to find a local representative.