FAQ

For most fiduciary engagements, GSS Trust charges an hourly rate based on the professional level of the staff performing the work. Whenever practical, we aim to delegate work to staff with lower hourly rates that have the necessary skills to complete the task. Hourly is the most common fee structure for all our fiduciary engagements, including trust and estate administration, Powers of Attorney, and contract services.

In very specific cases, such as an irrevocable trust with over $5,000,000.00 in liquid assets, GSS may instead charge its fee based on the percentage of the total assets under management to compensate GSS for additional risk present with a large account.

GSS does not receive compensation from investment products or third-party referrals. A fee schedule is available here.

Our investment department acts as a bridge and oversight body, and we collaborate directly with your chosen wealth advisor or select one if necessary. Your advisor maintains custody of your investments and sets the portfolio strategy based on input from GSS surrounding budget and longevity factors. The advisor that helped grow your wealth stays responsible for the investment strategy, subject to GSS due diligence and oversight. GSS works with the advisor to agree on benchmarks to measure performance, and reviews portfolio performance on a regular basis. If there are significant changes in the client or beneficiary’s budget or circumstances, GSS works with the advisor to determine whether a change in strategy is appropriate.

Every GSS Trust client is paired with a dedicated staff member who serves as their primary, day-to-day point of contact. Our internal policy requires staff to return calls and emails within 24 hours (and usually the same day). For clients where we have a healthcare oversight role, such as Medical Powers of Attorney, we also maintain an after-hours answering service to handle emergencies.

GSS typically meets with clients and beneficiaries at least once a year to develop a budget and plan for the upcoming year. At that time, we establish guidelines for pre-approved spending on recurring and predictable expenses. During the year, clients or family members can contact staff by email or phone anytime they have requests and can expect a response same day or within 24 hours maximum. For clients that live out-of-state, GSS can meet virtually by videoconference or phone.

GSS Trust provides an annual report and accounting to beneficiaries, co-trustees, and authorized family members or interested parties you designate. Additionally, we provide quarterly statements that include the account balances, investment values, and all transactions that occurred during the period. In addition, clients can contact their assigned staff and request a current statement or transaction report during business hours.

GSS Trust features an experienced and well-rounded roster of professionals. With 30-plus team members, our team reflects the diversity of clients we serve. Due to the niche nature of our business, most of our staff’s training and experience happens on the job and is handed down through decades of institutional experience. Ten of our staff members have been with the firm for more than a decade, and several have surpassed the 15-year mark.

Our staff includes the following in-house departments:

• Financial Managers : Handle bill-paying, disbursements, budgeting, financial reporting, and responsive communication with clients.
• Operations Staff: handle check-writing, electronic funds transfers, bookkeeping, and serve as the dual control on all financial transactions.
• Care Managers: Coordinate with you, your family, and your medical team. Backgrounds in serving older adults and individuals with disabilities and mental health conditions.
• Property Managers: Handle all real estate matters, from routine repairs and long-term rental management to property sales and purchases.
• Investment Department: Experienced with collaborating with a wide variety of outside wealth advisors, providing oversight for the trust’s investment portfolio.
• Tax Department: Handle fiduciary and individual income tax returns, tax reporting, and direct collaboration with your family’s CPA. GSS has multiple CPAs and IRS Enrolled Agents on staff.

Our office is open Monday through Friday from 9:00 a.m. to 4:30 p.m.

3101 Western Avenue, Suite 330, Seattle, WA 98121

GSS Trust does not have visitor parking, but there is paid street parking within a few blocks on Western Ave, Elliott Ave, Bay Street, and Eagles Street. Paid parking is also available at the Olympic Sculpture Park Garage on the park’s southeast corner at Broad Street and Western Ave. We recommend downloading the PaybyPhone app before your visit.

When we receive a distribution request, we consider the following:

• Consult the governing documents: We review the governing documents (e.g. trust agreement) to ensure the request aligns with the distribution guidelines.
• Consider the needs of the client: We evaluate how the funds will impact the client’s current situation, while balancing that against the long-term sustainability of the trust. For Special Needs Trust clients, this includes ensuring the distribution does not jeopardize government benefits like Medicaid or SSI.
• Consult with family: If GSS Trust has discretion to make a distribution, we may seek input from family members or other trusted members of the support network.

For complex or sensitive distribution requests, senior managers provide oversight and guidance. There is often gray area, and the experience of our senior managers is invaluable in ensuring the needs and preferences of you or your loved one are met with professionalism, sound judgment, and empathy. In situations where governing documents are unclear, we engage and consult outside legal counsel.

All trust spending must be pre-approved by the GSS Trust financial manager assigned to the account. We recommend that clients and family members not make purchases they intend to be reimbursed for without first consulting their assigned GSS staff member.

Beneficiaries should submit requests directly to their financial manager via email or phone, including any supporting documentation such as a bill, invoice, or estimate. Your financial manager will provide clear instructions on what documentation is required and how to submit it.

Yes. GSS Trust maintains Professional Liability coverage to protect our clients. In addition, as a state-chartered trust company regulated by the DFI, we undergo a regulatory examination every 18 months and receive an annual independent audit from an outside CPA firm.annual independent audit from an outside CPA firm.

Many of the clients we ultimately work with did not choose GSS Trust; instead, GSS was chosen for them by their family or the court. We manage trusts for beneficiaries with spendthrift issues, mental health conditions, and substance use disorders. We are also appointed by the court to serve as a neutral fiduciary to resolve family conflicts over an estate or trust. We often must deny requests for distributions because those distributions do not comply with the terms of the trust document, or because we determine in our discretion — as permitted by the trust document — that issuing such a distribution would not be financially sound, sustainable, or otherwise in the best interest of the beneficiary.

While the vast majority of our clients are satisfied with our services, due to the sensitive and confidential nature of their situations and relationships with us, they generally prefer to maintain privacy and not leave Google reviews. Most of our referrals come from attorneys and other professionals that have witnessed GSS’s good work in the community over many years.