What you'll learn View contents
The short answer
You are not locked in.
Many owners think that once the aircraft is in a trust, the trustee is stuck there forever. It is not. A trust is a service you pay for, and like any service, you can take it somewhere else.
Start by reading your current trust agreement. It will say how much warning you need to give and what it costs to close. Past that, there is usually nothing stopping you.
Why owners move
People rarely leave because of how the trust works. They leave because of how they are treated.
Owners who come to us from another trustee usually describe the same few problems:
- →Calls and emails that go unanswered for days, or get routed through a ticket queue
- →No single named person who knows the file
- →Renewal or filing deadlines that were missed, or nearly missed
- →A simple question that never gets a clear answer
- →Fees that grow without explanation
None of it is dramatic. That is the problem. Running a trust is quiet work, and you only notice it when something goes wrong, usually at the worst possible time, like in the middle of a sale.
“Most people who call about switching are not angry. They are tired. They just want someone to pick up the phone and give them a straight answer.”
Does my aircraft keep its N-number?
In most cases, yes.
This is what stops most people, and it makes sense. Your N-number is painted on the aircraft, printed on your documents, and known to your insurer and your mechanic.
The registration gets updated to the new trustee, and the aircraft usually keeps the same number. Your own situation can change this, so it is worth checking for your aircraft before you start.
What actually happens
New papers get signed, the FAA record gets updated, and the old trust closes.
Roughly, it goes like this:
- 1You check your current agreement for warning periods and closing fees.
- 2New papers are drawn up with the new trustee.
- 3The FAA record is updated.
- 4Your old trust is closed.
- 5Your insurer, and your lender if you have one, are told the new name on the registration.
How long it takes depends on your current trustee and on the FAA. Most of it happens in the background, and in normal circumstances your aircraft keeps flying the whole time.
Not sure what your current trust agreement allows? Send it over and we will read it with you.
Ask for a quoteWhat to ask before you choose
Ask the questions that show how you will be treated once the paperwork is done.
- →Who specifically will handle my file, and can I call that person directly?
- →How do you track my 7-year re-registration deadline, and what happens if it is approaching?
- →What is included in the yearly fee, and what costs extra?
- →How quickly do you respond when something is urgent?
- →How long have you been doing this?
If the answers are vague, that is your answer.
How to start
Tell us what you have now and we will tell you what moving would look like.
We have been doing this since 1988, for owners in 31 countries. Josh handles every client himself, and yearly fees start from €500.
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