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Open Architecture Trust Design:  The Emergence of "Multi-Participant" Trusts and Frameworks to Support Them

Modern investment strategies, evolving tax considerations and complex family and financial advisor dynamics have created demands that traditional trusts and trust companies are not well equipped to handle. In the face of these demands, many families, based on guidance from their expert advisors, are moving away from conventional trusts that rely on single or co-trustees to new “multi-participant” trusts.

Concord Trust Company, part of IQ-EQ is a specialized, non-depository trust company that specializes in these types of directed, “multi-participant” trusts that allow for the bifurcation of trustee duties. Supported by New Hampshire and South Dakota’s leading trust statutes, we complement the trusted advisors of our clients. We never compete with them.

What is a Directed Trust and how does it work?

 

Among the many features of NH and SD’s advantageous trust and trust banking laws, the states’ statutes specifically enable trusts commonly referred to as directed trusts. In these trusts, a directed trustee, such as CTC, serves as an “excluded fiduciary” providing access to the states’ advantageous laws by performing trust accounting, distributions and other back-office administrative functions from within the state.