Service 02 — Trust Administration
Trust Records That
Endure Examination
A trustee's responsibilities do not conclude at the end of a year. Maintaining orderly, transparent financial records is what makes it possible to demonstrate that a trust has been administered as it should be.
Back to Home Begin a ConversationWhat This Service Delivers
Orderly, Defensible Records for Every Year of Administration
At the close of each accounting period, you will have a complete, well-organised statement of the trust's financial activity — income received, distributions made, expenses paid, and the opening and closing balances of both principal and income accounts.
These records satisfy the trustee's duty to account to beneficiaries, provide a reliable basis for discussions with investment custodians and tax preparers, and create a durable record that reflects years of careful administration.
Specific Outcomes
- Annual trust accounting statements in fiduciary format
- Ongoing income tracking and distribution logging
- Coordination with investment custodians and tax preparers
- Beneficiary-ready reports that demonstrate transparency
The Challenge
Ongoing Administration Carries Ongoing Obligations
Individual trustees — whether family members, close advisors, or sole professionals — often find themselves managing investment custodian statements, distribution requests, and beneficiary communication simultaneously, without a reliable system for capturing the financial record that fiduciary duty requires.
Family offices and small trust companies face a related difficulty: the volume of trusts under administration grows, but the infrastructure for producing clean, consistent annual accountings does not always keep pace.
In both situations, the consequences of disorganised records tend to appear at the worst possible moment — when a beneficiary asks a pointed question, when a co-trustee disputes a decision, or when the records are needed for a legal proceeding.
Where Difficulty Typically Arises
Principal and income allocation
Determining what belongs to principal and what constitutes income — and maintaining that distinction consistently across years — is more nuanced than it appears and easy to handle inconsistently without a deliberate framework.
Custodian statement reconciliation
Investment accounts held at multiple custodians generate a volume of statements that must be reconciled against the trust's records before an accurate accounting can be produced.
Distribution documentation
Each distribution to a beneficiary needs to be recorded in a way that makes the basis for it clear — particularly when distributions are discretionary rather than mandated by the trust instrument.
Annual statement preparation
Producing an annual trust accounting that meets beneficiary and co-fiduciary expectations — not just a summary of transactions — requires a specific format and level of detail that general accounting software does not naturally produce.
Our Approach
A Recordkeeping System Built Around the Trust
Trust Administration Accounting is structured around the particular characteristics of each trust — its terms, its beneficiaries, and its investment and distribution history.
Principal and Income Tracking
Every item of income and every transaction affecting principal is categorised and recorded according to the trust's governing document and applicable law — consistently, across each year of administration.
Custodian Coordination
We work directly with investment custodians to reconcile statements and ensure the trust's records reflect what each account actually held and earned during the period — no gaps, no approximations.
Distribution Ledger
Every distribution — mandatory or discretionary — is documented with date, amount, recipient, and the basis for the distribution, giving the trustee a clear record that addresses the questions beneficiaries most commonly raise.
Annual Trust Accounting Statement
At the close of each accounting period, a complete annual statement is prepared in the format expected for fiduciary accountings — suitable for beneficiary delivery and co-fiduciary review.
Working Together
How an Ongoing Engagement Works
Trust Review
We begin by reading the trust instrument and reviewing its investment, distribution, and reporting requirements. Understanding the trust's terms shapes how the records are maintained from the outset.
Ongoing Recordkeeping
Throughout the year, income, distributions, and expenses are logged as they occur. Custodian statements are reviewed and reconciled on a regular basis so year-end preparation is not a scramble.
Statement Preparation
At the close of the accounting period, the annual trust accounting statement is assembled — organised by schedule, with opening and closing balances clearly presented and all supporting detail available.
Delivery and Continuity
The completed statement is reviewed with you before delivery. Tax preparers receive what they need for the fiduciary return, and records carry forward cleanly into the next period.
Investment
Trust Administration Accounting
Starting Investment
$3,200
USD — Per Annual Accounting Period
The annual engagement fee reflects the number of trusts, the volume of transactions, and the number of custodial accounts requiring reconciliation. A trust with straightforward investment activity and a small number of distributions will typically fall near this starting figure.
Discuss Your TrustWhat Is Included
- Trust instrument review and engagement setup
- Ongoing income, distribution, and expense logging
- Investment custodian statement reconciliation
- Annual trust accounting statement in fiduciary format
- Beneficiary-ready report for transparency obligations
- Records package prepared for tax preparer use
- Annual delivery review session included
Methodology
Built on the Conventions Fiduciaries Rely On
Trust accounting follows specific conventions that differ materially from commercial bookkeeping. The format and substance of what we produce reflects those conventions.
Trusts Served
Both
Revocable and irrevocable trust structures, each with their own recordkeeping requirements and reporting obligations addressed accordingly.
Coordination
Full
Investment custodians, tax preparers, and co-trustees all receive what they need from us directly — reducing the burden on the trustee to manage information flow between professionals.
Continuity
Year On
Records carry forward cleanly from one accounting period to the next, so the picture of the trust's administration grows clearer and more complete over time.
Our Commitment
The Trustee's Confidence, Supported
Engagement Terms Agreed in Advance
Before any work begins, we confirm what will be prepared, how frequently records will be updated, and what the annual fee will be. There are no unexpected additions to scope without prior discussion.
Pre-Delivery Review Every Year
Each annual accounting statement is reviewed with the trustee before it goes to beneficiaries or other parties. Questions are addressed, corrections are made, and delivery happens with confidence on both sides.
No Commitment Before Conversation
A preliminary conversation about the trust — its terms, its activity, and what it needs — does not create any obligation. We discuss whether this engagement is well suited to your situation before either party commits.
Records That Travel Well
Accounting records prepared in proper fiduciary format can be passed to successor trustees, reviewed by courts, or shared with new advisors without requiring explanation or reformatting. Orderly from the beginning.
Getting Started
Beginning the Engagement
Trust administration accounting works best when it begins at the start of an accounting period — though we are also able to take over from an existing accounting arrangement mid-year.
Step One
Tell Us About the Trust
Use the contact form or write to [email protected]. A brief description of the trust — its type, approximate asset value, and number of beneficiaries — is enough to begin.
Step Two
Review and Planning
We review the trust instrument and discuss how the engagement will be structured — what will be maintained, how custodian coordination will work, and what the annual statement will look like.
Step Three
Engagement Begins
Fee and scope confirmed in writing. Records are set up and ongoing tracking begins. From that point, the trust's financial record builds systematically through each year of administration.
Trust Administration Accounting
Let the Records Reflect What the Trust Deserves
Orderly trust records are not simply a compliance matter — they are how a trustee demonstrates the care that the role demands. A conversation about your trust is a natural place to begin.
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