Ameriprise Trust Company Expertise in Estate Planning

Ameriprise Trust Company's expertise in estate planning is rooted in its comprehensive approach to managing assets and liabilities.

Their trust officers work closely with clients to create customized estate plans that address their unique needs and goals.

With over 125 years of experience, Ameriprise has developed a deep understanding of the complexities involved in estate planning.

Ameriprise Trust Company offers a range of estate planning services, including trust administration, estate settlement, and tax planning.

Their team of experts helps clients navigate the often-complex process of estate planning, providing guidance and support every step of the way.

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Ameriprise Solutions offers flexibility with their trust solutions, allowing you to alter, amend, or revoke the trust terms whenever you choose.

You can also use their trust solutions to provide privacy and simplify your estate settlement, especially if you own property in more than one state.

Irrevocable trusts, on the other hand, cannot be changed once established, but they offer benefits such as providing estate tax savings or liability protection for family members.

Irrevocable trusts can also reduce the size of your estate by gifting assets to your family via the trust.

Here are some key benefits of irrevocable trusts:

Specialty trusts can be used in unique circumstances, such as providing for heirs with physical or developmental disabilities.

They can also protect the interests of unmarried life partners, and even help ensure the tax deferral of your IRA assets for your heirs after your death.

Ameriprise Financial offers a range of trust services, including professional consultation, trust management, and trust administrative services.

Their trust solutions are designed to help you meet your unique needs and provide peace of mind for you and your loved ones.

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A trust-based estate plan offers a simpler and more private way to transfer assets after you're gone by avoiding probate.

By using a living trust, you can retain income for yourself while you're alive and still have a clear plan in place for your assets.

A trust-based estate plan can help preserve assets and reduce your taxable estate, which is especially important for those with sizeable estates or more complex situations.

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With an initial investment of $2,000 per account and $25,000 per household, you get to work directly with a financial advisor to build your portfolio.

Your advisor will help you develop a personalized strategy and apply appropriate risk management techniques, such as asset allocation and diversification.

The investment program within the client-directed approach is Strategic Portfolio Service (SPS) Advantage, which includes the following investment options:

You retain full control over your investment portfolio, and your advisor will work in a purely non-discretionary role, meaning you make all the investment decisions.

Shane Weisman notes that while the infrastructure is there for client-directed products, the company is primarily built to be an advisor-driven investment management platform, but still offers trading and investment research tools to all clients.

Having an estate plan can provide a sense of security and peace of mind for you and your loved ones. A trust-based estate plan can help you retain income for yourself while you're alive and make transferring assets after you're gone easier and less private.

A living trust can hold your assets during your lifetime, allowing you to control how they're distributed after you're gone. This can help avoid probate, a lengthy and costly process that can be stressful for your family.

For those with sizeable estates, trusts can help preserve assets and reduce your taxable estate. This can leave more money for the people and causes you care about.

A trust-based estate plan can provide multiple ways to achieve your goals, making it a valuable tool for anyone looking to plan their estate.

You can name a friend or family member as a trustee, but make sure the trust allows them to hire professionals like an attorney or financial advisor to help manage it.

Ameriprise Financial offers a broad range of trust services, including professional consultation, trust management, and trust administrative services, which can be beneficial for those with complex or specialized needs.

You can also name dual or co-trustees, which involves having a personally appointed trustee serve in combination with a corporate trustee. This allows you to have someone who understands and represents your wishes while benefiting from working with a professional.

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As a trustee or fiduciary, it's essential to understand the risks involved in managing investment products. Investment products are not insured by the FDIC, NCUA or any federal agency.

This means that your investments are not backed by the government, and you should be aware of the potential for loss of principal and fluctuation in value.

You can name a friend or family member as a trustee, but make sure the trust allows them to hire professionals like an attorney or financial advisor to help manage it.

You can also name dual or co-trustees, which means having a personally appointed trustee work alongside a corporate trustee. This combination allows you to have someone who understands your wishes while benefiting from professional expertise.

If you name a friend or family member, consider whether they have the necessary skills and experience to manage the trust on their own. If not, a corporate trustee can provide the necessary expertise.

A corporate trustee can handle tasks such as filing annual tax returns and investment management, freeing up your personally appointed trustee to focus on your wishes and goals.

A fiduciary is someone who has a legal and ethical responsibility to act in the best interest of another person or organization.

Anyone employed at a company like Ameriprise who is registered as an investment advisor representative (IAR) must act as a fiduciary.

Professionals with titles like Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), and Chartered Financial Consultant (ChFC) often sign an agreement to uphold a fiduciary duty to clients.

Ameriprise's investment approach is centered around six key principles, which can be found on their website. These principles emphasize considering the long-term future and remembering your risk tolerance when making investment decisions.

The company's advisors use strategies like diversification and asset allocation to manage risk, and they also recommend taking an occasional step back to rebalance your portfolio and keep it in line with your goals. This approach aims to provide a stable and secure investment experience.

Ameriprise's fees and services are designed to meet the unique needs of each client. However, some of their products come with discretionary authority, which may not be suitable for everyone.

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Ameriprise's investment approach is centered around six key principles that guide their financial advisors. These principles are designed to help you achieve your long-term financial goals.

The first principle is to consider the long-term future when making investment decisions. This means thinking about your goals and when you need the money, rather than focusing on short-term gains.

Ameriprise's advisors also remember your risk tolerance when developing an investment strategy. This is crucial because it ensures that your investments are aligned with your comfort level for risk.

Diversification and asset allocation are also smart strategies that Ameriprise's professionals utilize. By spreading your investments across different asset classes, you can reduce your risk and increase your potential for returns.

Regular portfolio rebalancing is another key principle. This involves taking an occasional step back to assess your portfolio and make adjustments as needed to keep it in line with your goals.

Here are Ameriprise's six primary investment principles in a concise list:

Ameriprise's fee structure is based on the services you receive, and it can vary depending on whether you're getting ongoing financial planning or advisory products.

For ongoing financial planning, you might pay a flat cost on a monthly, quarterly, or annual basis, or a fee based on the dollar amount of assets under management (AUM).

Your first consultation with a financial advisor won't cost you anything, and you'll be able to monitor up to two goals for free online.

Ameriprise uses a wrap fee structure for its advisory products, which means you'll pay a single annual fee for all services and costs associated with your account.

Your rate will depend on your AUM, and it will increase as your portfolio's value appreciates, according to the Client Relationship Summary (CRS).

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At Ameriprise Trust Company, you can expect a high level of professionalism, as they uphold a fiduciary duty.

Their services are also quite accessible, with a first appointment being free. This can be a big plus for those looking to get started without breaking the bank.

Ameriprise Trust Company has low account minimums, making it easier for individuals to get started with their trust services.

Their managed account solutions are quite versatile, offering both discretionary and non-discretionary options. This can be a big advantage for those who need flexibility in their trust management.

The team at Ameriprise Trust Company is comprised of advisory professionals with top-notch credentials, including CFP, CFA, and ChFC. This level of expertise can provide peace of mind for those seeking their services.

Here are some key benefits of working with Ameriprise Trust Company at a glance: