Helping preserve, grow, and transfer wealth to the people and causes you care about

Private Client ServicesHelping you plan now with confi dence in the future

© 2016 Massachusetts Mutual Life Insurance Company, Springfi eld, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affi liated companies and sales representatives.

TC7017 516 C:201804-383

The MassMutual Trust Company, FSB is a federal savings bank chartered by the Offi ce of the Comptroller of the Currency to provide discretionary and nondiscretionary trust and fi duciary services in all states. Our business activity is limited to providing trust and fi duciary services. The MassMutual Trust Company is a wholly owned subsidiary of Massachusetts Life Insurance Company.

You’ve worked hard to achieve success, and now your fi nances are more complex and come with additional responsibilities to take care of those who depend on you. You deserve a dedicated professional team that can develop a customized investment plan and provide a variety of personalized and trust services – all while adhering to one of the highest standards of fi nancial responsibility, called fi duciary care.

The MassMutual Trust Company, FSB, offers an array of personalized services, delivered by a team of highly qualifi ed professionals who work with your fi nancial professional. Our professional team helps you provide fi nancial security for you and your family. And, as a fi duciary, we always act with your best interests in mind.

Contents 1 | Personalized services delivered

by an experienced team

2 | Disciplined investment philosophy and process

4 | Fiduciary care: The standard of care you deserve

5 | Trusts for your specifi c needs

6 | Your choice of trustee

7 | Individual or professional trustee?

8 | Start a discussion with us today.

Showing Pocket Position

1

Personalized services delivered by an experienced team

Building the right relationships can be critical in maintaining financial success and preserving wealth. Through its team of experienced professionals in the areas of trust management, investments, tax regulations, and state laws,1 the MassMutual Trust Company partners with MassMutual financial professionals to help clients who want to provide financial security for their families – now and for future generations.

We deliver high-end concierge services for a variety of

needs, including:

• customized investment strategies, with ongoing

oversight, prudent risk management, objectivity, and

tax efficiency

• cash management services and access to

secured lending2

• estate plan execution including legacy planning

• trust document reviews

• investment portfolio reviews

• multi-generational planning and wealth

transfer strategies

• family wealth stewardship, family meetings

• charitable giving strategies, including

donor-advised funds

• ongoing account administration

We become part of your team, working with your existing

financial team during the planning process and throughout

the life of our relationship with you and your heirs. We

employ an extensive discovery process and take the time to

listen to your needs, wishes, and plans for your legacy. We

also help to address any concerns about changing family

dynamics such as disability, incapacity, divorce, aging,

death, and blended family issues. In other words, we take

a holistic approach in viewing and evaluating your current

situation, in order to design solutions that are specific to

your life, hopes and aspirations.

1 The MassMutual Trust Company, its employees and representatives are not authorized to give tax or legal advice and the information provided is not written or intended as tax or legal advice. Please consult your tax and legal advisors to determine how this information may apply to your own situation.

2 Loans and letters of credit provided by US Bank.

2

Disciplined investment philosophy and process

Our process is centered around your goals

We take the time up front to understand what is unique about

you. Then we develop a customized investment strategy and

document it in an investment policy statement.

The investment policy statement outlines the portfolio’s

building blocks and tries to capture what you told us about

yourself – your time horizon, your need for income, your

risk tolerance, need for liquidity, tax situation, and any other

unique needs and circumstances.

The investment policy statement will include the long-term

asset allocation target, the investment strategy, and how the

portfolio will be benchmarked and over what time periods.

We regularly revisit this statement with you and your

financial professional to ensure that we remain aligned with

your wealth management objectives.

Our investment philosophy has grown from our long experience with meeting client objectives in changing market conditions. Because our clients generally have plans that span multiple generations, we apply an investment philosophy and approach that provides a customized solution with prudent risk management.

We carefully select only those asset managers whom we believe can deliver the expertise and experience that will help meet your long-term objectives. Then we carefully monitor both the managers and your individualized plan, to ensure they remain aligned with your long-term goals.

Investment process

A four-step investment process brings together your needs with our expertise and discipline to build a comfortable and successful wealth management strategy just for you.

4 Monitor and adjustAllocations are monitored on an ongoing basis. As your needs and market conditions change, specific investments can be adjusted periodically to help manage risk.

3 Investment policy statementOur investment team then reviews and documents an investment strategy specific to your needs.

2 Asset allocationNext, we implement a strategic asset allocation with diversification among asset classes and long-term and time-tested investment strategies.

1 Client profileOur investment approach begins with an understanding of your individual investment objectives, risk tolerance, time horizon, tax sensitivity, income and liquidity needs.

3

Ongoing investment oversight

MassMutual Trust Company investment professionals have

a thorough, disciplined, and continual due diligence

process to ensure sub-advisors continue to meet the needs

of our clients.

Our ongoing due diligence and investment oversight

includes a number of checks and balances, including

internal supervision by the Trust Company Investment

Committee and Board of Directors.

MassMutual Trust remains vigilant in watching for any

changes in our sub-advisors’ investment philosophies,

personnel policies, or organizational structures that may

have an impact on our clients’ portfolios. We engage with

only those sub-advisors whom we believe can deliver the

expertise and experience that will help you meet your

long-term objectives.

Prudent risk management

Our investment team constructs a prudently well-diversified

portfolio for each client, ensuring that there are no

concentrations of risk in any one asset class, economic

sector or individual security. As conditions change in the

economy, the financial markets, or in your own individual

circumstances, adjustments are made as needed.3

Sub-advisor selection criteria

We select investment sub-advisors who share our

commitment to service, integrity, quality, discipline,

oversight, and governance. Each sub-advisor has an

experienced team of portfolio managers with a unique

perspective to managing money for the long term and

through all types of financial market cycles. We use

non-proprietary asset managers, providing an additional

layer of objectivity in managing your assets.

3 Asset allocation and diversification do not assure a profit and do not protect against loss in declining markets. All investing is subject to risk, including the possible loss of principal.

4

Fiduciary care: The standard of care you deserve

How we provide fiduciary care

A fiduciary has a number of responsibilities to consider

when acting in your best interest. We construct a portfolio

of investments customized to your investment goals,

providing a careful analysis to balance risk against return,

and diversifying assets to focus on the performance of the

entire portfolio.

Our responsibility is to monitor and continually adjust the

portfolio as economic conditions change. At least once a

year, our investment team formally reviews every account to

ensure that the portfolio remains consistent with the client’s

financial goals.

We provide full and fair disclosure of all material facts of

each account, including a quarterly report of the account’s

performance. Notably, we choose to use non-proprietary

investments in order to avoid even the appearance of any

conflict of interest.

In addition, we participate in mandated, regular, in-depth

reviews by the Office of the Comptroller of the Currency

(OCC). Oversight by the OCC is among the most rigorous

applied to advisor relationships.

Having accumulated higher net worth, you expect and deserve the highest levels of competency, service and care from your financial firm. The fiduciary standard of care is the pinnacle standard in the industry.

The fiduciary standard of care is the framework used by the MassMutual Trust Company to build our service model and offer customized solutions so that decisions are made in “your best interest.”

The fiduciary standard

Our fiduciary standard means that we have the responsibility

to act solely in the best interest of our clients, under

circumstances that require the use of reasonable care,

skill, prudent judgment and rigorous accountability on a

continuing basis.

What does it mean to be a fiduciary?

· A fiduciary must act with each client’s best interests in mind. Any recommendations must be made in utmost good faith and with full disclosure of all material facts and conflicts of interest.

· A fiduciary must provide regular reporting of account financial information.

· The MassMutual Trust Company chooses to use non-proprietary investments to avoid potential conflicts of interest.

· The MassMutual Trust Company is overseen by the Office of the Comptroller of the Currency (OCC). Oversight by the OCC is among the most rigorous applied to advisor relationships and includes mandated regular in-depth reviews.

· A fiduciary reviews the portfolio regularly and makes prudent adjustments to match a client’s current goals.

5

The MassMutual Trust Company can help you establish a trust

with a dedicated Trust Officer who administers the trust and

serves as your primary contact for ongoing trust management

and any ad hoc requests or questions you may have.

The chart below briefly outlines the different types of trusts

available to you through the MassMutual Trust Company.

What do you want to achieve? What type of trust will get the results you want?

What is the benefit/feature of this trust structure?

Have a plan in place should I become incapacitated

Revocable Living Trust • Manage some of life’s unforeseen

circumstances such as a disability

• Explain your wishes for your children when you are no longer in the picture

• You can retain control of the trust and change or have it revoked during your lifetime

• Trust assets pass directly to beneficiaries without going through probate, which helps eliminate any challenges within an estate and maintains privacy

Provide funds for estate settlement; asset and some creditor protection for beneficiaries

Irrevocable Trust • Pass on assets to family using gifting advantage

without going through probate

• May reduce estate taxes on the appreciation of trust assets

• An irrevocable trust and its provisions cannot be changed or modified once it is signed

• Provides beneficiaries with creditor protection

Pass on assets to family; leave a legacy for your family

Irrevocable Life Insurance Trust • Maximize life insurance benefits by providing

liquid assets to maintain family lifestyle• Removes the life insurance death benefit from

the estate, creating a tax-advantaged way to transfer wealth to your loved ones

Give to a favorite charity without endangering income to you or your family

Charitable Remainder Trust • Support your favorite charity • Allows you to enjoy an income stream while

avoiding capital gains tax

• Provides an income tax deduction

Provide care for a loved one with special needs Special Needs Trust • Have peace of mind – knowing that a loved one

who may not be able to care for her/himself will be cared for

• The trust is structured to continue the person’s eligibility for government programs and benefits

• Provides for additional lifestyle needs

Provide some financial security for your children after your lifetime

Trust Under Will (Testamentary Trust)• May perform many of the functions of

other trusts

• Does not take effect until your death

• Creates a trust at death under a will

• Changes can be made to the trust throughout your lifetime

• May be subject to public scrutiny as part of probate

Trusts for your specific needs

There are different types of trusts to meet a variety of goals. Trusts are designed to address your personal wishes and maintain control over how your estate is managed, preserved, and distributed.

6

One of the most important decisions that clients face when creating a trust is the selection of a trustee. A trustee is required to administer the trust to ensure that your wealth is managed and distributed according to your wishes as presented in the trust document, while keeping your beneficiaries’ best interests in mind. You have the ability to choose an individual, a professional trustee, or a combination of both for the role of trustee.

Trustee responsibilities

The overriding responsibility of a trustee is to safeguard the

assets of the trust grantor (if living) and for the beneficiaries

who will receive them after the grantor dies. Trustees must

follow the instructions in the trust document and must fulfill

certain duties such as:

• Invest assets in a prudent (conservative) manner,

i.e. in a way that will result in potential reasonable

growth with minimum risk.

• Treat multiple trust beneficiaries impartially (i.e. not

favoring one over another), unless the trust allows the

trustee to do so.

• Keep accurate accounting records of assets,

liabilities, receipts, disbursements, and income,

estate and gift taxes.

• Record trustee actions and routine trust actions.

• File tax returns.

• Report to the beneficiaries and communicate

information to relevant parties as the trust requires.

• Keep personal accounts and assets separate from the

trust assets, and ensure that trust assets are used only

as intended in the trust document.

Individual vs. professional trustees

When selecting a trustee, many people consider a trusted

family member or a close friend for the role. It is likely that

an individual trustee will have a long and close history

with the trust beneficiaries. While this can add a helpful

element to the relationship, it can also cause critical issues

to arise. The chart on the facing page outlines why you may

want to consider a professional, corporate trustee, such as

The MassMutual Trust Company.

The MassMutual Trust Company can serve in a variety

of roles relating to the responsibilities of the trustee as

outlined below.

• Sole trustee: We assume all administrative

responsibilities, investment management decisions,

and discretionary distributions in accordance with

the terms of the trust document.

• Co-trustee: We take care of the administrative and

investment management responsibilities delegated

to us. Discretionary decision-making responsibilities

are shared with other co-trustee(s).

• Successor trustee: We assume trustee responsi-

bilities when the current trustee is no longer willing

or able to serve as trustee.

• Agent for trustee: We take care of the administrative

and investment management responsibilities, while

all discretionary decision-making responsibilities are

handled by the trustee. In this role, a family member

or close friend who is trustee hires MassMutual

Trust Company to act as their agent. Critical and

important responsibilities are delegated to us so that

the trustee feels confident that fiduciary responsi-

bilities and investment management activities are

managed appropriately and in accordance with the

trust document.

Your choice of trustee

7

Speak with your MassMutual agent for more information about The MassMutual Trust Company and our personalized investment and trust services – all with your best interests in mind.

Individual acting as trustee (a family member or friend)

Professional trustee (MM Trust)

Resources • May only be able to work part-time

• May have little to no experience or track record

• May need to separately employ specialists

• Has full-time, trained, professional and credentialed staff and specialists

• Has staff and specialists who have many years of experience administering trust accounts

Cost • Fees of various other specialists increase overall cost of relationship

• Offers multiple services at one fee

Objectivity • May have a conflict of interest due to familial relationships

• Is an impartial third party

Continuity • Service may be interrupted by illness, death or disability • Service is provided by a wholly-owned subsidiary of MassMutual Life Insurance Company, a financial institution that has been in business for more than 163 years

Investment Knowledge

• May not be experienced in asset management

• May hold cash uninvested for periods of time, which may dampen long-term performance

• Substantially experienced in managing all assets including unique assets

• Reinvests cash daily

Communication • May communicate infrequently with beneficiaries and may not be able to address complex or emotional issues

• Is committed to regularly communicating with beneficiaries, answering questions and discussing all issues with sensitivity and objectivity

Individual or professional trustee?

8

Start a discussion with us today.

For more information about the services offered by the MassMutual Trust Company, contact your MassMutual Agent or the MassMutual Trust Company toll-free at 1-888-894-5354 or via e-mail at info@massmutualtrust.com.

© 2016 Massachusetts Mutual Life Insurance Company, Springfi eld, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affi liated companies and sales representatives.

TC7017 516 C:201804-383

The MassMutual Trust Company, FSB is a federal savings bank chartered by the Offi ce of the Comptroller of the Currency to provide discretionary and nondiscretionary trust and fi duciary services in all states. Our business activity is limited to providing trust and fi duciary services. The MassMutual Trust Company is a wholly owned subsidiary of Massachusetts Life Insurance Company.