ABOUT
Why Crummey Cake
For anyone gifting assets to a trust, the process of preparing, sending and storing the letters required by the IRS (aka “Crummey Letters”) is cumbersome at best.
The person establishing the trust (the “Grantor”) needs to notify trustees of gifts made and often remind them to send the letters to the beneficiaries. Trustees need to track receipt and acknowledgment of the letters. The grantor then needs to retain the letters in a folder somewhere that the necessary person, often a spouse, will know where to find them, usually after the Grantor has passed.
Automated
Using the latest technology, Crummey Cake automates the preparation, delivery and storage of the letters in a secure, digital environment.
Accessible
With Crummey Cake, grantors can invite family members and trusted financial advisors to their site, prepare the letters and have access to them when needed.
Centralized
Copies of prior years’ letters prepared offline can also be uploaded so that all “Crummeys” are in one place.
Reliable
With timestamps of when each letter was signed, sent and acknowledged, you can trust that everything needed in the event of an IRS audit will be readily available.
PROCESS
How it Works
01. Create Your Family
Create your family and add all of your relevant family members and financial advisors.
02. Setup Trusts
Set up your trusts and create your templates for your letters.
03. Record Gifts
Record gifts to the trust as you make them. The trustee will automatically be notified and requested to send a Crummey letter to the beneficiaries.
04. Send Letters
Beneficiaries will receive the Crummey letters electronically and will be provided a link to acknowledge the gift and, optionally, request or decline a withdrawal.
05. Store Records
All activity will be recorded and timestamped, and a copy of the letter will be stored for your family and any advisors you invite to see.
TESTIMONIALS
What Our Customers Say
NEWS
Whats New
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