Our mission is to provide professional, knowledgeable, full time administrative capacity to non-professional trustees of irrevocable trusts at a reasonable price.

Premium Administration, LLC, assists trustees with:

  • Understanding their fiduciary duties
  • Creating gift reminders and Crummey notices
  • Monitoring insurance premiums and policies

Most non-professional trustees are unaware of how many seemingly small details must be correct and timely in order to safeguard intended trust tax benefits for the trustor(s).

Our standardized gift process allows for a variety of gift scenarios while ensuring the administrative details are handled accurately and timely.

Some Features and Benefits of our standardized gift process:

Gift notification letters are mailed to the trustor(s) 45-60 days ahead of premium due dates. These tailored letters reflect the details of each trust, its holdings and may include additional gift documentation forms such as gift allocation elections and joint or community property waivers. Our clients can make gifts by traditional trust banking processes, or by electronic transactions between brokerage accounts and trust banking or payment accounts.

When the trustor(s) complete their gifting, their trustees receive specific instructions on their responsibilities and duties with each gift. Our objective is to make their tasks easy. Since many trustees only handle gifts to irrevocable trust once annually, they know we are only a phone call away to guide them through the process.

When the trustees complete their tasks, we ensure that beneficiary Crummey notices are mailed quickly. These notices are tailored to reflect different situations, such as initial gifts to new trusts, subsequent gifts to existing trusts, and gifts to minors via either the natural guardian, court appointed guardian, or power of attorney. Trust specific beneficiary notices can be provided if necessary.

Finally, premium payments are forwarded to the insurance companies. We go the extra mile and follow up with each insurance policy check mailed to be certain the payment is received and appropriately credited.

Ultimately, when the insured(s) pass away, the files are easy to locate. In the event of an IRS trust audit, the records are complete, in order, and ready for review.
We carry errors and omissions coverage for additional peace of mind.

Trustees who work with Premium Administration, LLC, can rest easier knowing that their trust is being professionally administered throughout the year.


Trust Administration Since 1999
Copyright 2008