Trustee Services 1

Chain Bridge Bank, N.A. offers trustee services for managing and administering various types of trusts on behalf of clients. Trusts are legal arrangements that allow individuals or organizations to transfer assets and property to a trustee, who holds and manages them on behalf of designated beneficiaries. Trusts can be used for purposes such as tax planning, generational wealth transfers, charitable giving, and caring for a disabled beneficiary. The duties of managing a trust typically include overseeing investments, making disbursements, keeping records, and ensuring compliance with legal and regulatory requirements.

Special Needs Trusts
Administering a special needs trust requires careful attention to the beneficiary, as well as any restrictions on the use of trust funds and the eligibility criteria for government benefits. Special needs trusts are often designed to preserve the beneficiary's eligibility for government assistance programs, such as Supplemental Security Income (SSI) or Medicaid. Based on the expertise of its trust professionals and collaboration with professionals in this field, Chain Bridge Bank, N.A. helps ensure that distributions are made in accordance with the beneficiary's current and future needs as well as any applicable legal or regulatory requirements.

Estate Planning
Chain Bridge Bank, N.A. works closely with clients and their legal advisors to incorporate trusts into comprehensive estate planning strategies. Its trust professionals provide guidance on structuring trusts to optimize tax planning, facilitate wealth transfers, and protect assets for the long term.

Estate Administration
As executor of an estate, Chain Bridge Bank, N.A. works closely with the decedent's family or designated representatives to understand the estate's specific details and gather financial and legal records. Its trust professionals guide the estate through the probate process, which involves filing documents with the probate court, identifying and safeguarding the decedent’s assets, validating the decedent’s debts, preparing periodic accounting reports to the beneficiaries and to the court, and ultimately distributing the estate to the beneficiaries upon court approval.

Land Trusts
Land trusts provide privacy and confidentiality for property owners. It’s simple: the name of Chain Bridge Bank, N.A. replaces the beneficiary name on public property records. As trustee, Chain Bridge Bank, N.A. also manages and administers the property held in the land trust, which may include collecting rent or lease payments, paying property-related expenses like taxes and insurance, and ensuring compliance with municipal regulations and requirements.

Settlement Protection Trusts
Settlement protection trusts are designed to protect the proceeds of a legal settlement or judgment for the benefit of the recipient. Chain Bridge Bank, N.A. handles the disbursement of funds from the settlement protection trust in accordance with the terms outlined in the trust agreement, while complying with legal and regulatory requirements.

Asset Management
Chain Bridge Bank, N.A. offers professional asset management services for trust portfolios, ranging from real estate and art to stocks and bonds. Its wealth management experts develop tailored investment strategies, diversify the trust's assets, monitor performance, and make adjustments as necessary to meet the trust’s objectives.

Fiduciary Duty
As a national bank serving as trustee, Chain Bridge Bank, N.A. has a fiduciary duty to act in the best interests of the trust’s beneficiaries. Its trust professionals must manage the trust with the utmost care, diligence, and loyalty, following legal and ethical guidelines stipulated by national banking law.

Record Keeping and Reporting
Trustee services provided by Chain Bridge Bank, N.A. include maintaining accurate records of trust transactions, income, and expenses. Trust professionals provide regular reporting to beneficiaries to keep them informed about the trust's financial status and performance. They also collaborate closely with tax professionals to address tax concerns, including the filing of returns and payments.

Agent for Trustee
Chain Bridge Bank, N.A. has extensive experience and resources in trust administration. As an agent for a trustee, it brings its professionals’ expertise and knowledge to managing the trust and carrying out fiduciary duties that typically include investment management, record keeping, accounting, tax reporting, beneficiary communications, and other administrative functions. The trustee maintains the decision-making authority without having to worry about administration, which Chain Bridge Bank, N.A. takes care of.

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Connect with Us

Gregory Smolen
Senior Vice President

Trust & Wealth
Department Manager

Michelle Martinez
Vice President

Trust & Wealth
 Trust Officer

Richard Dunbar
Vice President
Trust & Wealth
 Operations Manager 

Investment products and services are:

Not a Deposit  ●  Not FDIC Insured  ●  May Lose Value  ●  Not Bank Guaranteed  ●  Not Insured by any Federal Government Agency

Chain Bridge Bank, N.A. offers investment products, which may include bank managed accounts and custody, as part of its trust and fiduciary services. Investment products, including but not limited to, stocks, bonds, mutual funds, and exchange traded funds are: not FDIC-insured; not a deposit or other obligation of, or guaranteed by, Chain Bridge Bank, N.A.; not guaranteed by any Government agency; and subject to investment risks, including possible loss of the principal amount invested.

Chain Bridge Bank, N.A. and employees do not provide tax, legal or accounting advice. Information presented on these web pages is not intended to provide, and should not be relied on for tax, legal and accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transaction.

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