Printable
Trust company due-diligence checklist
Ten boxes. Entity, roster, role, situs, custody, unique assets, affiliates, fees, documents, successor. Check a box only when you have a dated source or a written answer — not when the homepage felt solid.
Editorial only. Not legal, tax, or investment advice. Statutes and licensee lists change — read the primary source and the date on each citation.
Print this page or copy the boxes into a closing memo. Spoken versions live on questions to ask.
- Legal entity. Signature block matches the roster name (or a disclosed DBA). Parent and sister entities are named if they will touch the file.
- Current roster. Name appears on the current SD, NV, WY, or DE list you actually opened. PDF date recorded. Trade-association listings do not count.
- Role in writing. Directed / excluded, discretionary, co-trustee, or agency. Statute section recited if directed. Duties the trustee will not take are listed.
- Situs and administration. City where the file will be run. Who can open accounts. Whether records will be examinable in the charter state. Instrument recitals match those facts.
- Custody. Named custodian or a clear on-books description. Account registration. Who initiates wires and how many approvals.
- Unique assets. Written yes/no on operating companies, real estate, concentrated stock, insurance, digital assets. “We can do anything” left unchecked.
- Affiliates and conflicts. RIA, broker, tax, or family-office affiliates disclosed. ADV or engagement-letter incentive to cross-refer, if any, is in the file. Outside advisers accepted on stated terms.
- Fees. Current schedule or written quote in hand. No figure copied from a stale PDF or a marketing page. This directory does not invent fees.
- Documents. Directed acceptance, conflicts letter, fee letter, and any required board or committee resolutions collected.
- Successor. Merger, sale, surrender, and receivership addressed. Successor trustee named or a statutory/court path understood. Records location after exit known.
Do not add a box for “AUM feels large enough” or “they’re highly rated.” Those are not sourced fields here.
When a box stays empty after a written ask, treat it as a red flag, not as a pending marketing follow-up.
Questions people actually ask
Is this a government form?
No. It is an editorial checklist that follows this directory’s sourcing rules. It does not replace counsel’s closing binder or a regulator examination.
Do I need every box for a directed administrative appointment?
You need entity, roster, role, situs, custody, and successor at minimum. Unique-asset and affiliate boxes matter when those facts exist. Fees should be in writing before acceptance even if the amount is customized.
Can I check a box from a Trust File listing?
Use a listing as a lead. Re-check the current roster and the firm’s written answers. Listings go stale; licensee PDFs are restated.