Premium Administration, LLC
was conceived in 1997.
A prominent estate planning
attorney and a corporate trust officer were
meeting to discuss
some business matters for their existing
clients. Coincidentally, there were several
trust issues
with the same problem: the lack of a qualified
and reasonably priced administrative service
solution for their irrevocable life insurance
trusts.
The trust officer wanted to
provide an affordable solution, but the emphasis
on client services
offered by her company included asset management
and full trusteeship, not a specialty administrative
niche in life insurance trusts. Only if
each of the attorney’s clients were
interested in opening a full service trust
account would
the company be willing to accept responsibility
for the irrevocable trust component of
the estate plan. If the corporate trustee
agreed
to accept an irrevocable trust, the fee
for service would be priced in consideration
of
full trustee liability and management models.
In other words, most corporate trustee
potential solutions for irrevocable trust
administration
were still quite highly priced.
They decided to do something
about this situation, that very day, and
the result
is Premium
Administration, LLC.
Premium Administration, LLC
provides economical assistance to your independent
trustee.
We develop, and continually seek to
improve
our standardized processes. Our intent
is
to facilitate
easy and stress free irrevocable trust
administration. Our objective is to
be the best administrative
service provider.
Since inception, we have accepted
and administered 100’s of irrevocable
trusts. We have trustor(s), trustees and
beneficiaries across
the United States. We gain new clients
primarily through referrals from estate planning
attorneys,
tax accountants, life insurance and
financial planning professionals, our existing
clients,
and corporate trustees seeking a
way to help their clients without jeopardizing
their ultimate
trustee relationship.
Premium Administration, LLC
never acts as a trustee, only as an administrative
agent
for
your independent trustee. Most
clients
use a sibling, a professional advisor,
a business
partner or associate, or a responsible
adult beneficiary as their independent,
non-professional
trustee. It is the independent
trustee who formally hires us.
Premium Administration, LLC
never deposits your gift funds into a
pooled account
or corporate account. We never
take possession in any way
of client trust assets. We facilitate
the
independent trustee to accept
gifts and pay premiums.
Premium Administration, LLC
makes it possible for your independent
trustee
to successfully
administer your trusts. Contact
us and see how we can help
you.
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