Trust Administration Services
Trust services are offered through Charles Schwab Trust Company (CSTC). Schwab's Personal Trust Service offers an easy way to manage your trust assets with a combination of trust expertise and knowledge, coupled with a single online system that provides maximum flexibility. Our trust offering includes administrative corporate trustee services as well as support for individual trustees. When working with Charles Schwab Trust Company as a fiduciary administrator, Schwab will handle the following tasks:
- Income and principal distributions made according to the trust document
- Accounting and recordkeeping of trust activity
- Preparation and filing of federal and state tax returns
- Monthly reporting of trust assets and activity provided to you
Trust Reporting Services
As a separate service, Personal Trust Reporting Services (PTRS) delivers trust accounting and back-office support, including principal and income trust reporting and recordkeeping, for our clients who serve as trustee themselves. This service offers a single, fully integrated trust accounting and trading platform for trust and non-trust assets.
PTRS provides trust accounting functions that include:
- Detailed trust accounting, including automated separation of principal and income
- Payment of scheduled disbursements to beneficiaries and third parties (calculated and fixed), upon trustee direction
- Online access to process disbursements, code trust-related principal and income, obtain tax information and add comments to transactions
- Trust accounting reports, including a brokerage statement with supplemental trust reporting and a separate Trust Report
- Tax worksheets for trustees and tax preparers including complete trust tax and expense reporting, supplementing the brokerage 1099
- Recordkeeping of personal tangible and intangible property owned by the trust but not held at Schwab (e.g., real estate, collectibles, partnership interests, etc.)