Fiduciary responsibility involves the highest standard of care and duty of loyalty to act prudently and in the best interest of beneficiaries. The trustee role requires both a substantial amount of work and knowledge of a wide array of legal and investment matters. Many of our clients serve as trustee for their family trusts and we assist them with their fiduciary duties. Where we act as trustee, we fulfill our role with care and an objective perspective. The responsibilities of a trustee include all facets of trust management.

FAMILY WEALTH PLANNING

  • Purpose of trust & fit with overall family assets
  • Intent of grantor & family wealth legacy
  • Education of beneficiaries

INVESTMENTS

  • Investment policy statement
  • Cash flow planning
  • Custody
  • Performance monitoring and reporting
  • Risk assessment and monitoring
  • Prudent investor rule

DISTRIBUTION DECISIONS

  • Mandatory and discretionary distributions
  • Documentation
  • Understanding trust terms and distribution standards

ADMINISTRATION

  • Principal & income accounting
  • Contacts
  • Conflicts of interest
  • Trustee fees
  • Movement of funds
  • Keeping beneficiaries appropriately informed

TAXES

  • Tax return coordination
  • Income tax planning
  • Estimated tax payments