Chain Bridge Bank, N.A. offers specialized trustee services to meet individual needs. These offerings include:
Our knowledgeable trust officers administer Special Needs Trusts for beneficiaries with disabilities. Special Needs Trusts aim to preserve the beneficiary's eligibility for public benefits such as Medicaid or Supplemental Security Income while providing additional financial resources for their care. We seek to ensure that trust distributions are meeting the beneficiary's needs and are complying with applicable legal and regulatory guidelines.
Settlement Protection Trusts
We oversee the distribution of funds from settlement protection trusts, often holding legal settlement funds. We seek to verify that disbursements are complying with the trust agreement and all pertinent legal and regulatory standards.
Land Trusts
We provide privacy and confidentiality for property owners by substituting the beneficiary’s name on public records with the land trust’s name. As the trustee, we hold and manage the legal title to the real estate for public purposes, while the benefits and responsibilities of ownership continue with the beneficiaries.
Charitable Trusts
We administer trusts designed for philanthropic purposes to ensure that the grantors' intentions align with the trust's directives. Our services can include collaboration with charitable organizations and grant management.
Management of Unique and Hard-to-Value Assets
We are a nationally chartered bank with full trust powers, granted by the Office of the Comptroller of the Currency. This authorization allows us to manage not only publicly traded assets but also unique and hard-to-value assets. Financial service providers, such as broker-dealers, often face limitations in holding only publicly traded securities. Our capabilities extend to managing, and holding in custody, assets that are not traded on financial markets.
Unique and hard-to-value assets include:
• Residential real estate
• Stock in privately held companies
• Partnership interests
• Life insurance
• Promissory notes
• Tangible assets
• Collectibles,
These specific assets may be accepted into trust accounts to accommodate a client's entire portfolio or used as distinctive investments. Managing more complex private holdings such as investment real estate and majority interests in privately held businesses can require even greater attention to compliance and due diligence, which we have the capacity to provide.
Service Charges and Considerations
Our service charge structure is transparent and includes the market value of unique assets. We communicate clearly about any additional costs that may arise, such as third-party managers or extraordinary time spent by our officers.
NEXT STEPS
For further information on Trustee Services with Chain Bridge Bank, N.A., please contact us to discuss your trust and estate needs.
