2013 Trust Account Checklist – Expenses, Fees, Commissions

ANNUAL REMINDER TO EVERY TRUST AND FIDUCIARY ACCOUNT

Letter from Trustee to Financial / Investment Advisor

Dear (insert title): Broker / Private banker / Investment adviser / Financial planner / Wealth manager

Part of my fiduciary duty, as trustee is to know the amounts paid for your services. When you can, kindly provide the DOLLAR amounts paid by the trust in 2013 for:

1. ADVISORY FEES $__________________________________

2. EXPENSES $_______________________________________

3. COMMISSIONS $___________________________________

4. MARK UPS / DOWNS $_______________________________ (Bonds, Principal trades)

5. LOADS $__________________________________________

6. INTERNAL EXPENSES $______________________________ (ETFs, Mutual funds)

7. ACCOUNT FEES $___________________________________

8. SAFE DEPOSIT $____________________________________

9. TAX PREP $_______________________________________

10. MARGIN INTEREST $______________________________

11. LOAN FEES $_____________________________________

12. STORAGE FEES $__________________________________

13. OTHER FEE, EXPENSE $_____________________________

14. OTHER FEE, EXPENSE $_____________________________

15. OTHER FEE, EXPENSE $_____________________________

16. TOTAL $_________________________________________

(Regardless, of whatever name it may be called, please provide any and all charges to the trust account in 2013.)

ASSET VALUES

JAN 1, 2013 $____________________________________

DEC 31, 2013 $____________________________________

Thank you very much for your assistance.

SIGNED: ___________________________________________

TRUSTEE of (insert name and account number) FAMILY, CHARITABLE, PENSION, FOUNDATION ENDOWMENT – or – OTHER FIDUCIARY ACCOUNT)

Date ____________________________

The above checklist is MOST important for any new trustee in 2013. Charities, not – for – profit organizations, foundations and endowments boards often install new officers, board members and trustees at the beginning of each year. In 2013 or 2014, BEFORE you accept an invitation to serve as a trustee, board member or on an investment committee (no matter how sought after or prestigious) make sure you know the underlying facts of the investment accounts. ASK questions and GET answers before you accept the position as a Trustee, because in addition to you having a vaunted title, there are important legal responsibilities that go along with it.

If any trustee or board member has any questions or feels more comfortable having me send the letter

you can contact me at info@fiduciaryexpert.com or (310) 943-6509