Comerica Bank & Trust, NA

Professional TrusteeAlliance Program

2013

About Comerica, Inc.

• Among the top 25 largest U S Banks• One of larger trust institutions in the U.S.

• Texas lead bank and a Michigan based National Bank for the Alliance business

• 15,000+ personal trust accounts • $18+ billion personal trust assets• $88+ billion institutional trust assets

• Over 100 Years of Fiduciary History• Regional Locations

• MI, TX, FL, CA, DE, MN, NC, CO, NY, TN and AZ• IL, MO, MA, NJ & WA• Experienced Trust Professionals • Experienced Specialty Support Areas

- Real Estate and Closely Held Businesses

- Estate Settlement, Court Appointed Accounts

- Philanthropic Services

- Trust Operations, Trust Systems, Trust Tax

About Comerica, Inc.

• The leader in trust alliances

• Dedicated Alliance program

• A “friendly” fiduciary

• $11.2 billion in Alliance assets

• Able to administer accounts in all 50 States

Comerica’s Alliance Program

Providing Alliance Trust Services Since 1995

Comerica fiduciary services include:

Trustee, Co-Trustee or Agent for Trustee

Personal Representative/Executor or

Agent for the Fiduciary of Decedent’s Estate

Conservator & Guardian of the Estate of a Legally Incapacitated Person

Trustee of Pension Plans and Institutional Trust Accounts

So Why Comerica?

• An experienced professional trustee• Understand broker and bank cultural variances• Able to act in all 50 states • Connectivity systems are developed• Experienced alliance professionals• National coverage with regional offices• Both Personal and Institutional Trust capabilities

Comerica Trust AllianceAdministrative Offices

Regional Coverage

SD

El Segundo & San Diego, CA Dallas & Houston, TX

Phoenix, AZ & Denver, CO Minneapolis, MNDetroit, MIMemphis, TN Rocky Mount, NCWilmington, DE

New York, NY Boca Raton, FL 03-12

*Minneapolis

* Administrative Offices

*

Detroit

*San Diego

* Boca Raton

* Memphis*

Phoenix

*Dallas

* Houston

* Rocky Mount

* New York City

Wilmington*

El Segundo *

*Denver

The Comerica Alliance: How it works

Comerica “Partner”

Client & Financial Advisor

Non-Financial Assets Financial Assets

Comerica Trust Statement

TrustAdministration Investments

The Role of the Corporate Trustee

• Record keeping & Fiduciary reporting• Interpret trust documents• Investment objectives• Investment management and oversight• Tax preparation• Discretionary actions• Special asset administration• Trust administration• Distributions and disburse funds

Comerica’s Duties and Responsibilities as Trustee

• Ongoing education as to the nature of the trust• Reporting & compliance• Investment oversight• Distribution activities• Impartiality• Avoidance of conflicts of interests/disclosure• Communication

Reporting

As Trustee, Comerica will provide the following:

 • Periodic statements issued to grantors, beneficiaries financial

advisors and money managers• Periodic statements to grantor’s accountant and attorney (as

required)• Annual trust tax information letters to beneficiaries and

accountants• Annual accountings to the attorney general (if required by state

law)• Court accountings (as required)• Internet access (as desired)• Performance reporting may be provided by our Alliance Partner

or Comerica• ERISA reporting

Compliance

As trustee, Comerica’s Alliance Group has continuing standards to assure compliance and financial integrity.

• Reporting according to exacting standards• Continuous self audit• Internal Comerica audits• External accountant audits• Alliance partner due diligence• Office of the Comptroller of Currency, State Regulators and

the Federal Reserve Bank audits

Investment Oversight

Investment oversight is a critical component of trust administration, and one in which Comerica is actively engaged. As Trustee, we will:

• Carry out our responsibilities in accordance with the Prudent Investor Act and applicable state law

• Provide fiduciary advice on asset allocation• Approve investment manager selection• Review investment manager performance• Administer non-financial assets, including real estate, oil, gas,

and mineral interests• Ensure compliance with all of the terms of the trust document • Work with Co-Trustees

Distributions

A trustee’s key responsibilities surrounding distributions include:

• Calculating the amount of distributions per trust to beneficiaries• Maintaining accurate records of principal and income transactions• Determining whether to approve discretionary distributions• Maintaining impartiality in the decision making process• Reviewing and approving billings for attorney, accountants and investment

advisor• Implementing the intent of the trust maker and terms of the trust to protect

beneficiaries and the trust assets from creditors, predators and the Internal Revenue Service

Comerica as Personal Representative/Executor 

In our official capacity of Personal Representative/Executor, we will:

 • Collect and inventory all of your client’s assets (mutual funds, insurance

policies, CDs, oil and gas properties, real estate, partnerships, stocks and bonds, personal brokerage accounts, retirement accounts, etc.)

• Determine your client’s community property allocations (if applicable)• Assume responsibility for the review of investments and safekeeping of

your client’s estate during probate• Coordinate the investment program and liquidity requirements with our

Partner• Calculate, file and pay applicable federal estate inheritance and fiduciary

income taxes• Distribute your client’s assets to his or her beneficiaries in accordance with

their Will, and fund applicable trusts• Work with attorneys and accountants to review and implement post-

mortem tax-planning strategies 

Comerica does not provide tax and/or legal advice, please have your client consult their attorney and/or tax advisor.

Serving Your Institutional ClientIn addition to a full menu of personal trust services, the alliance allows you to offer trust services to your institutional client as well. Whether a corporation, union, nonprofit or public entity, we are able to serve your client in the following capacities:

 • Corporate Trustee • Custodian• Agent• ERISA Trustee• Other services:

 – Master trust plan accounting– Pension benefits payment services– Consolidated reporting– Online access to statements for participants– Consulting

Comerica as Institutional Custodian

We are available to act as Custodian for:

 • Corporate investment accounts• Hospitals/healthcare organizations• Insurance companies• Foundations/endowments• Taft-Hartley funds• Public funds• Other organizations that require a bank custodian

Investment Oversight

• Pre acceptance approval• Quarterly review and reporting• At least annual due diligence• Tracking of purchases and sales• Annual investment reviews • Annual plan in place• Reconcilements of all positions

Advantages of the Comerica Alliance

• Enables the Financial Advisor to gather new assets

• Assets remain, when possible, with our Alliance Partner as the sub-custodian

 • Provides clients with professional trust administration and investment services,

seamlessly integrated in an efficient, service-driven trust model

 • Combines the administrative know-how of Comerica with the investment expertise and

breadth of our Alliance Partner

 • Encourages our Partner Financial Advisor to stay involved after Comerica assumes

trusteeship, thereby preserving and enhancing the client relationship and retaining assets

 • Provides critical component in offering family-focused, multigenerational wealth

management, which clients increasingly expect

 • Provides an open-architecture solution to proprietary offerings

Our Commitment to Our Alliance Partners and Clients

• Interpret trust document(s)

 • Duty of loyalty to the beneficiaries

 • Enforce and defend claims against

the trust

 • Duty of impartiality to beneficiaries

 • Duty to keep parties informed

 • Duty of confidentiality

 • Duty to make assets productive

• Select sub-custodians (as custodian)

• Maintain insurance coverage as required

 • Assure accounting principles are

applied

 • Maintain compliance with principal and

income act for the trust situs state

 • Maintain strict audit and due diligence

programs

 • Maintain asset review for quality,

diversity and adherence to investment objectives

How Do I Get Started

1. Call your Trust Specialist

2. Secure a copy of the Trust Agreement

3. Secure the latest statement from the current Trustee

4. Send your copy of the Trust Agreement and statement to your Trust Specialist

5. Don’t forget number 1 !

 

Comerica Bank & Trust, National Association is a subsidiary of Comerica

Incorporated. Comerica Bank & Trust N.A.’s strategic alliance partners are

neither subsidiaries nor affiliates of Comerica Incorporated. Securities and other

non-deposit investment products are not FDIC insured; are not deposits or

obligations of, or guaranteed by Comerica or any of its affiliates; and involve

risk, including possible loss of principal. Past performance is not indicative of

future results. Comerica Bank & Trust, N.A. and its affiliates do not provide tax

or legal advice. Please consult with your advisors regarding your particular

situation.

Copyright © 2013 All rights reserved.