Bridgeford Trust Company understands that trusts were not created just to hold liquid investible assets. To the contrary, they were created to hold and transfer a myriad of property interests in a tax efficient manner while maintaining control over assets for the benefit of beneficiaries. For this reason, trust planning and the ability to work with non-traditional assets in trust is clearly an essential component of overall wealth planning, particularly for affluent and ultra-affluent families.
However, many bank trust departments refuse to work with non-traditional assets, forcing wealthy families to appoint individual trustees to handle non-traditional assets. This is ironic since non-traditional assets are typically the most complicated to administer and carry the most liability.
“Multi-family offices with independent trust powers are far more flexible with regard to holding non-traditional assets and are both objective and creative in addressing the overall wealth management needs of the affluent.”