How we work, in four principles.
A specialty firm has to be clear about what it is and isn't. These are the four principles that shape every engagement we take on - and the ones we don't.
Principles
We explain it in plain English.
We're tax specialists, but we're not formal about it. Charitable planning can get complicated, so a big part of our job is just making it understandable - we explain the why and skip the jargon. Ask us whether a CRT makes sense and you'll get a straight answer. If you're an attorney or another CPA and want the technical version, we're happy to go there too. Same answer either way - we just meet you where you are.
We pair every recommendation with visuals for everyone at the table. If the CPA or others want to go deeper, we'll provide detailed math. The goal is for you to actually understand your situation, not to be impressed by our verbiage.
Specialized, on purpose.
We've specialized in charitable trusts for a long time, and we've chosen to keep our focus narrow rather than branch into general accounting. We think that focus serves our clients - and the advisors who refer them - better than trying to do a little of everything.
If your question isn't about charitable trusts or very similar, we're probably not the right firm, and we're glad to tell you that.
We're collaborative, not competitive.
We're small and focused on purpose. If a client comes to us through their financial advisor, attorney, CPA, or a gift officer, that relationship doesn't change - you keep the client, we handle the charitable trust piece and coordinate with everyone already at the table. We're often the ones "quarterbacking" that one technical corner, simply because it's what we know best.
Once the trust is up and running, the advisor team doesn't need to look any different than it did before. We're not here to take over the relationship, and we're not trying to grow a general tax practice on the back of a referral.
We say no.
If we believe a CRT should be terminated, we tell the client. If a referral isn't a fit, we say so. Saying no early is part of the value - and protects every referral relationship we have.
Sometimes the most useful thing we can do is tell you a charitable trust isn't the right fit. That answer might cost us the engagement, but it keeps the trust of the advisor who sent you.
How we work, answered.
01Do you work with clients outside Minnesota?+
Yes. Charitable trust work is a federal tax specialty, and many of our engagements involve advisors and clients across the country. We handle the coordination remotely and can travel if a matter warrants it, though that's rare.
02Will you replace my current financial advisor, attorney, or CPA?+
No. Your existing team keeps doing what it did before. We handle the specialized charitable trust piece and coordinate with everyone else at the table. We're the added specialist, not a replacement for the people you already trust.
03What does the first conversation look like?+
A short call, usually thirty minutes. We ask about the asset, the timeline, and what you're hoping to accomplish. Most of the time we can tell you within that call whether a charitable trust is a fit, whether a simpler tool would be better, or whether the timing means we should wait. There's no cost and no obligation.
04How do you charge?+
Fixed fees, agreed before we start. There are typically three costs to setting up a charitable trust: the planning and design work, the attorney's drafting of the trust instrument, and annual tax administration once the trust is running. We quote our piece as a fixed fee so you know the number going in. Every situation is different, so we'll give you a real figure after the first conversation rather than a range that turns out not to apply to you.
05Do you draft the trust document?+
No, that's an attorney's job, and if you already have one we're happy to work with them. We handle the tax side: the feasibility work, the modeling, the remainder calculation, and the tax provisions the attorney needs to get right. If you don't have an attorney for this, we're glad to suggest a few who do this work regularly.
06Do you serve as trustee?+
No. We're the tax specialists, not the trustee. Many of donors serve as their own trustee, and many others use a trust company or a bank (i.e., corporate trustee) - either works. What we do is the annual filings, the payout calculations, and coordinating with whoever holds the investments so the trustee isn't figuring out Form 5227 on their own.
07What if I already have a charitable trust that someone else set up?+
That's a significant part of what we do. Trusts come to us all the time from CPAs, trustees, and other advisors who'd rather hand the tax administration to someone who does this all day. We'll review how the trust has been administered, tell you if anything looks off, and take it from there. You don't need to have worked with us on the original design.
08Do you only work on charitable remainder trusts?+
CRTs are the bulk of it, but not all of it. We also do major gift consulting - which often starts as a CRT question and ends up somewhere else - and personal tax planning and preparation for people who give regularly and significantly, in limited capacity. If the honest answer is a donor-advised fund, a gift annuity, or a QCD instead of a trust, we'll tell you that and help you think it through.
If our approach matches what you're looking for, let's talk.
We'll tell you whether we're the right fit before you commit to anything.