Advisor Directed Trusts

Directed Trust Made Simple

Following the introduction of the Illinois Directed Trust Statute at the beginning of 2013, it is now possible to separate the traditional responsibilities and roles of a professional trustee into two distinct fiduciary roles:

The Administrative Trustee

  • Holds title and ownership of the trust assets
  • Establishes and maintains trust bank accounts
  • Determines the frequency, timing and amount of distributions to be made from the trust in accordance with the terms of the trust agreement and the needs of the beneficiaries
  • Makes distributions and receives contributions
  • Files trust tax returns
  • Distributes trust statements to beneficial owners and beneficiaries.

The Investment Advisor

  • Determines the investment strategy for the trust assets
  • Establishes an Investment Policy Statement (IPS) for the trust
  • Invests in accordance with the IPS
  • Has full fiduciary responsibility for all investment decisions relating to trust assets.

Funds are not FDIC insured, may lose value, and carry no Bank guarantee.

Devon Bank is proud to be one of the few Illinois based Trust Companies with the flexibility to offer administrative trusteeship services in partnership with external Financial Advisors desiring to jointly manage Illinois directed trust relationships.

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