North Point’s primary functions as trustee include providing administrative services in the state of South Dakota and performing other tasks as decided by the person who has created a trust for his or her family or by the creator’s trusted advisors. Some additional, optional services include:
- Holding assets;
- Accounting for trust assets and liabilities;
- Managing distributions to beneficiaries;
- Carrying out the investment decisions as directed by those appointed in a trust agreement or in an agreement of engagement;
- Maintaining South Dakota checking accounts to pay trust expenses;
- Overseeing the repayment of debt where a trust is funded with assets from an installment sale or managing other aspects of a sophisticated estate plan;
- Overseeing the preparation and filing of tax returns.