Our core trust document is the combined result of six major national law firms, a Big 4 national CPA firm and hundreds of professional hours spent over a six year period. Currently, we are utilizing the 7th iteration of enhancements to the Trust document and have spent in excess of $250,000 in document design and development. Also, we continue to monitor changes in law and court rulings and react by providing periodic updates to existing Kiss Trust documents.
Poorly written and ineffective trust documents not only spell disaster for the beneficiary - but also create an administrative nightmare for even the best trustee. As the trustee on all Kiss Trusts, Eastern Point Trust Company has a vested interest to ensure the document is of the highest quality.
While your family attorney may be very talented, it would be very difficult, and expensive to commission a single professional to draft a more comprehensive and reviewed trust document.
The Kiss Trust document has been used, reviewed and accepted by courts, government agencies and financial institutions around the country. No other trust document of its type has been more reviewed and accepted.
The national average expense to commission a lawyer to draft an irrevocable savings trust is $5,000 - The Kiss Trust document creation fee is only $49.
Why such a low cost? We are able to spread the development cost over thousands of clients.
In the trust industry it is common knowledge that 80% of the protection afforded by a trust is the performance of the trustee in properly administering the trust. It cannot be stated strongly enough that there is no second to a professional institutional 3rd party trustee. Inherent conflicts of interest, lack of tax or legal knowledge, and malpractice frequently occur when family members or other non-professionals serve as trustee.
Also, certain types of trusts such as Coogan, Restricted and Special Needs trusts require a disinterested third party trustee.
As Grantor, you retain the ability to amend a Kiss Trust in the future. As an irrevocable trust you may not take back gifts. However, Kiss Trust's patented design provides the flexibility to make amendments to address changing family circumstances. (Learn more)
Kiss Trust has been used in hundreds of unique and diverse situations as a complete solution for issues such as;
Assets held in a Kiss Trust do not reduce student financial aid. This allows improved consideration for grants, scholarships, loans and other financial assistance from State, Federal or University sources.
Unlike a 529, UGMA, UTMA, Cordell, Bank Account or other single purpose savings vehicle Kiss Trust can be designed to address several needs.
For instance, if you create a Kiss Trust for Education, and the Beneficiary decides not to pursue a college education, the assets will be preserved for other distribution elections you chose such as first time home purchase.
Direct your life insurance or other accounts to flow into a Kiss Trust after your death to be distributed per your instructions.
Create a Kiss Trust with a HESM (Health Education Support and Maintenance) provision to monitor distribution of assets to your children(s) guardian In the event you and your spouse die while they are still minors.
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