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 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
easy. Since many trustees only handle
gifts to irrevocable trust once annually,
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
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
either the natural guardian, court appointed
guardian, or power of attorney. Trust
beneficiary notices can be provided if
Finally, premium payments are forwarded
to the insurance companies. We go the
extra mile and follow up with each
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
We carry errors and omissions coverage
for additional peace of mind.
who work with Premium Administration,
LLC, can rest easier knowing that their
trust is being professionally administered