“New ILIT-Based relationships
are now growing our business”
- Financial Service Executive
are now growing our business”
- Financial Service Executive
One task recorded in CrummeyService by you generates
many tasks, communications, and records in CrummeyService.
many tasks, communications, and records in CrummeyService.
In fact, our near-autopilot solution will automate the majority of ILIT administrative tasks. And for those few tasks which the ILIT administrator must do, CrummeyService prompts and reminds the administrator when to do it.
For example, when the trust administrator records a grantor’s gift in CrummeyService (only one task consuming less than one minute of time), CrummeyService automatically will:
1. Create and send Crummey notices to all beneficiaries
2. Store a copy of each Crummey notice with a record of when they were sent and to whom
3. Create, send, and record a summary copy of all Crummey notices to all trustees, fiduciaries, attorneys, financial advisors, and grantors.
(CrummeyService sends you, an overseer of the trust, one notice which includes the actual Crummey notice and an itemized list of Crummey notice recipients. CrummeyService allows you to always access the original individual Crummey notices, but in your position overseeing the trust you only need confirmation of what was sent, when it was sent, and to whom it was sent. Our clients prefer one itemized summary letter to many individual copies which, they told us, fills up their inbox.)
4. CrummeyService automatically acknowledges the Crummey notices after thirty days, regardless of whether the beneficiary actually replied to the notice, and it will record this acknowledgement in CrummeyService.
5. It will create a record and maintain all of the above communications in a secure data environment, each of which is accessible 24/7 by authorized parties to the trust.
6. Additionally, CrummeyService uses the data involved in all of the transactions and communications to build reports which are always accessible and empower you, the overseer, to more effectively control and manage the trust.
2. Store a copy of each Crummey notice with a record of when they were sent and to whom
3. Create, send, and record a summary copy of all Crummey notices to all trustees, fiduciaries, attorneys, financial advisors, and grantors.
(CrummeyService sends you, an overseer of the trust, one notice which includes the actual Crummey notice and an itemized list of Crummey notice recipients. CrummeyService allows you to always access the original individual Crummey notices, but in your position overseeing the trust you only need confirmation of what was sent, when it was sent, and to whom it was sent. Our clients prefer one itemized summary letter to many individual copies which, they told us, fills up their inbox.)
4. CrummeyService automatically acknowledges the Crummey notices after thirty days, regardless of whether the beneficiary actually replied to the notice, and it will record this acknowledgement in CrummeyService.
5. It will create a record and maintain all of the above communications in a secure data environment, each of which is accessible 24/7 by authorized parties to the trust.
6. Additionally, CrummeyService uses the data involved in all of the transactions and communications to build reports which are always accessible and empower you, the overseer, to more effectively control and manage the trust.