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Establishing a Trust

Creating a Trust can be complex. Our team of experienced professionals can help make the process easy.

  • Benefits of a Trust

    Individuals often need an impartial administrator to avoid family conflicts. They may have legacy endowments or charitable contributions that need to be managed for generations. Some trusts are established for a person to use during their lifetime, including when they are incapacitated and need a trustee to help manage their affairs.

    Trusts accomplish a wide range of objectives:

    • The smooth transfer of assets during your lifetime or after death
    • Impartial, professional expertise in handling estates
    • Assurance that your wishes are carried out and that assets are passed on to your intended beneficiaries
    • Asset management for your beneficiaries that will continue after you are gone
    • Charitable giving
    • Can help alleviate family conflict
    • Avoidance of probate
    • Adherence to the utmost discretion, security, and confidentiality

    To learn more about the many benefits of a trust, call our Trust Services team at 585.336.1300.

     
  • Questions to Consider

    There are many important questions to consider. Below are just a few questions that you should ask yourself when creating your financial plan.

    Important questions to consider:

    • Do I have a Will and the right estate plan in place?
    • Who will take care of my family after my death?
    • How will my affairs be managed if I become incapacitated?
    • Am I really maximizing my investment options?
    • How can I balance the needs of my family with my charitable intentions?
    • Do I have a team around me I truly trust with what is precious to me?

    After answering the above questions, ask yourself these key questions to see if a Trust may be right for you:

    • Do you want to protect the interests of a surviving spouse?
    • Do you want to ensure your wishes are honored after your death?
    • Do you have a family member with special needs?
    • Do you need assistance keeping financial affairs orderly?
    • Are you passionate about charitable giving?
    • Are you a business owner and/or executive?
    • Do you want to avoid probate and protect your privacy?

    We can help you consider these questions when we meet with you to discuss your particular situation. Personal service and complete discretion are the cornerstones of how we conduct business.

    Call our Trust Services team at 585.336.1300 to schedule an appointment.

     
  • Steps to Create a Trust

    There are five main steps to establishing a Trust.

    Step 1 – Meet with the Client

    • Our team meets with each client to listen and understand their estate planning needs.

    Step 2 – Work with an Attorney

    • ESL Trust Services will work with our clients' attorney to draft the trust document and will.

    Step 3 – ESL Trust Services Named as Trustee

    • ESL Trust Services will review the document and may accept the appointment of serving as trustee or co-trustee.

    Step 4 – ESL Trust Services Account Opened

    • Open an account with ESL Trust Services.

    Step 5 – Assets Transferred

    • Assets are transferred to ESL Trust Services.