TIAA-CREF Trust Company, FSB
Personal Trust Services
Transfer assets to your heirs — with confidence
Many people assume trusts are only for the ultra-wealthy, but that is a
misconception. Simply defined, a trust is a legal arrangement for holding
and transferring assets on behalf of your beneficiaries or an institution.
Before establishing a trust, it is important to determine whether it suits
your needs and those of your loved ones.
Understand Your Objectives
The decision to establish a trust can
represent a significant part of an overall
financial strategy. Your trust should reflect
your values and goals. To support your
decision-making process, we’ve put together
the following list of common circumstances
in which to consider establishing a trust:
You and/or a family member have
accumulated significant assets and do
not wish to manage them independently.
You have (or anticipate having) complex
estate planning requirements, or simply
want to minimize estate taxes and
probate costs that are often incurred
when transferring assets through a will.
You are concerned that your will may be
challenged in court due to a complex
family situation or unreliable beneficiaries.
You own real estate in multiple states.
You want to provide for professional
management of your assets in the event
of your incapacity or death.
You want to establish structured gifts to
charities or other philanthropic activities.
You want to provide for children from
a previous marriage or children with
special needs.
You want to ensure your assets are
managed and distributed to beneficiaries
according to your wishes.
What TIAA-CREF can do for you
From a legal standpoint, there are a number
of options from which to choose when you
decide to establish a trust. Acting on your
behalf, TIAA-CREF Trust Company can assume
various capacities including:
Sole (or current) Trustee
Co-Trustee — working alongside another
individual or institution
Successor Trustee — after another
individual or institution transfers
ownership and management of your
assets and property to us
TIAA-CREF Trust Company provides expertise
in establishing and managing a range of trust
types, each of which we’ve summarized in
this brochure.
How We Work With You
Collaborating for your financial success
Our commitment to outstanding client service
drives everything we do. From the beginning,
we establish a team who will manage all
aspects of your financial relationship with us.
In addition, members of this team often work
in close consultation with other TIAA-CREF
professionals and select outside advisors.
Through in-person consultations, telephone
conferences and electronic communications,
we ensure that you have regular access to
your team for questions and expert advice.
We also offer a full complement of web-based
tools that allow you to monitor your portfolio
and its holdings.
Throughout your relationship, your Portfolio
Manager continually focuses on maximizing
your portfolio’s returns based on your needs,
risk tolerance and investment objectives.
Working together with the Portfolio Manager, a
Trust Administrator oversees and coordinates
the following types of solutions and service
options designed to meet your objectives:
Full trust administration
Consolidated asset reporting
Collecting dividends, interest and
other income
Client consultations
Cash management and bill payment
Coordination with other advisors and
external legal and tax advisors
Trust terms you should know
Grantor The person who establishes
the trust, and who owns the assets (or
other property) that will become part of
the trust.
Beneficiary The person or entity
who will receive assets or property
according to the terms of the trust.
Trustee The person or institution
to whom the grantor has transferred
legal oversight and responsibility for the
assets and property. The trustee has
legal authority over these entities and
can make decisions on behalf of the
grantor regarding their management
and administration.
Assets/Property The elements
used to fund a trust; they can take
a variety of forms: securities, bonds,
mutual funds, cash, other investment
portfolio holdings, insurance policies,
real estate, artwork and other highvalue physical objects.
Terms The specific rules and
regulations established by the
grantor (in consultation with the
trustee) that govern the management,
administration and distribution of
assets/property of the trust.
Seamless partnership with
your trusted advisors
Your dedicated team will collaborate with
internal and external professionals to provide
counsel and strategic advice in several areas,
including:
Tax and accounting
Insurance coverage
Estate planning
Simplify your life with an array
of helpful services
If you establish a trust with us, we can also
assume responsibility for:
Preparing your annual trust tax return and
all associated documentation
Retirement strategies
Paying beneficiaries
Charitable gifts
Overseeing your real estate interests
Legal issues
Distributing principal and income payments
Administering funding for complex trusts
They will also offer ongoing support to ensure
that we develop a comprehensive, holistic
understanding of your current and future
financial needs, and continue to address each
unique aspect of your financial life.
For those with significant assets and more
complex needs, we offer stock option and gift
planning analysis, education planning and
other specialty services.
Whether you elect to establish a trust, you
can still take advantage of a number of
TIAA-CREF Trust Company’s services to help
reduce financial complexities and work toward
a host of objectives. As always, we look forward
to helping manage a number of financial
activities and responsibilities on your behalf.
Which trusts are most appropriate for your individual situation?
Living Trust
Irrevocable Trust
Testamentary
Trusts
Irrevocable Life Insurance
Trusts
Charitable Remainder Trust
Charitable Lead Trusts
Highly flexible estate planning tool that allows you to maintain maximum control
May shorten estate settlement time frame, avoid probate and protect privacy
Consolidate assets in one place for ease of management
Can be structured to minimize estate taxes
Can free you from the responsibility of asset management
Provide ongoing support for you and your loved ones
Cannot be modified or terminated
May substantially reduce state and federal estate, gift and income taxes
Provide asset management for you or your beneficiaries
Provide ongoing support for you and your loved ones
Revocable until death
Amendments are made simply by changing the will
Assets are subject to estate taxes
Tax-free benefits go to surviving spouse and/or beneficiaries
Provides liquidity for estate taxes or other needs
Must be irrevocable to receive tax benefits — Grantor must relinquish control
May reduce capital gains and estate taxes
Grantor transfers assets to a trust to benefit chosen charity
Grantor receives a current charitable deduction for the computed value of the
gift, if done during lifetime
Trust pays out income to designated beneficiary (grantor or others), either for
life or a period of years
On the death of the last income beneficiary, or at the end of the term, charity
receives trust property
May reduce capital gains and estate taxes
Grantor transfers assets to a trust to benefit chosen charity
Grantor receives a current charitable deduction for the computed value of
the gift, if done during lifetime
Trust pays out income to a designated charity for a specific time period
At the end of the trust term, specified beneficiaries receive the remaining
trust property
We encourage you to contact your TIAA-CREF Advisor, Consultant
or Trust Company representative to discuss this information
and review next steps. If you currently do not have a dedicated
TIAA-CREF contact, please call 888 842-9001 and we will put you
in touch with someone who can help.
TIAA-CREF Trust Company, FSB, One Metropolitan Square, 211 North Broadway,
Suite 1000, St. Louis, MO 63102-2733
Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not
deposits, are not insured by any federal government agency, are not a condition to any banking service or
activity, and may lose value.
The tax information contained in this booklet is not intended to be used and cannot be used by any taxpayer for the
purpose of avoiding tax penalties. It was written to support the promotion of TIAA-CREF Trust Company, FSB. Taxpayers
should seek advice based on their own particular circumstances from an independent tax advisor.
©2014 TIAA-CREF Trust Company, FSB, 211 North Broadway, St. Louis, MO 63102
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