Trust Services

D. L. Blain & Co. partners with Charles Schwab Bank to offer comprehensive administrative trustee services to our clients who wish to create a trust as part of their estate planning. Under this unique arrangement, fiduciary duties for client assets held in trust are administered by trust officers of Charles Schwab Bank; however, the trust assets are managed by D. L. Blain & Co.

Charles Schwab Bank is chartered in Delaware so the laws of The First State will apply to the administrative situs of the trust, but the validity and construction of the trust can be governed by the laws of other states.

The partnership also provides potential tax advantages. For example, Delaware does not impose income tax on accumulated income or capital gains, or on income distributed to non-resident beneficiaries. Additionally, Delaware has no intangibles, gift or inheritance taxes. Finally, Charles Schwab Bank will file all federal and state income taxes, pay any taxes from the trust and provide Form K-1s for beneficiaries who receive distributions from the trust.

Other services provided by Charles Schwab Bank include processing income and principal distributions, accounting and recordkeeping, and monthly reporting for you and your clients. D. L. Blain & Co. will provide a detailed quarterly report that shows asset allocation within the trust.