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Managing your trust assets
 

Managing your trust assets

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    Managing your trust assets Managing your trust assets Presentation Transcript

    • Presented byRussell Albright2011 CopyrightAlbright Investment Management LLC 1
    •  Thank you for attending one of our premiereducational seminars provided by our firm. Our Presentation is to provide you with abetter understanding of your role as trustee,and how Albright Investment Managementcan help you manage your family’s legacy. Please save any questions you might haveuntil the end of the presentation.2011 CopyrightAlbright Investment Management LLC 2
    •  Russell Albright has served as an experiencedfinancial services executive since 1994 at topBanking and Brokerage firms in the SanFrancisco bay area with a key role in achievingpeak performance and profitability. Russell’s unique background of financial servicesexperience and post graduate certifications fromStanford University has provided a winningcombination of specialized skills for privatebanking, wealth management, and trustadministration.2011 CopyrightAlbright Investment Management LLC 3
    •  If you are a trustee it is critical that youunderstand the role you are undertaking.As aprofessional banker we strongly recommendthat you have an advisor. With our firm, you will be provided with yourvery own Private Banker, Portfolio Manager,andTrust Officer to help you safeguard theassets, manage the investments, and provideclear and accurate records of administration.2011 CopyrightAlbright Investment Management LLC 4
    •  Private Banking with Charles Schwab bank Sophisticated Investment Management Clear and Accurate records ofTrustAdministration Real Estate Notary Public2011 CopyrightAlbright Investment Management LLC 5
    •  Deconstructing the typical Bank,Trust Company, orBrokerage The real strategic value lies in the consultative andadvisory nature of its services, and not in the sales offinancial products from the firm. At our firm, your advisor has the advantage ofindependent research to develop clear and conciseinvestment strategies that are suitable for thebeneficiaries and in alignment with the investment policyof the trust without any conflicts of interest. We are a fee based firm that derives a majority of itsrevenue from advisory services, and receives nocommissions on any of the financial products it mayrecommend for your portfolio.2011 CopyrightAlbright Investment Management LLC 6
    •  Accountability Commitment Duration of Service Experience managingTrust Assets Strategic Decision capability with all advisors Serve theTrustee Clear and Accurate Records available 24/7 Authority and Control remain with theTrustee Risk Management and Regulatory Compliance Value2011 CopyrightAlbright Investment Management LLC 7
    •  Choosing the Right Advisor and Custodian Duties of aTrustee or Grantor Managing yourTrust Assets The Power of Delegation2011 CopyrightAlbright Investment Management LLC 8
    • 2011 CopyrightAlbright Investment Management LLC 9
    •  Personal liaison to the trustee and beneficiaries Dedicated and QualifiedTrust Officer andFiduciary Assists in the administration, accounting, andreporting for tax preparation. TrustAdministration as directed by the trustee,not by the agent. Best choice for delegation of the investmentmanagement and administrative duties of theTrust.2011 CopyrightAlbright Investment Management LLC 10
    •  Choosing the rightAdvisor is one of the mostimportant decisions you can make for yourselfand your family. A trust that is mismanaged can create familydisputes, lead to severe tax or legalconsequences for your family’s estate,jeopardize the estate plan, and possible loss ofprincipal. Unfortunately, your local Bank or Credit Unionwill offer limited assistance with less thanhelpful branch managers.2011 CopyrightAlbright Investment Management LLC 11
    • 1. Education2. Professional Associations3. Licenses and or Certifications4. Strategy vs. Execution5. Risk Management6. Specialized skills andTraining7. StrategicValue8. Availability9. Industry expertise10. Independent Research2011 CopyrightAlbright Investment Management LLC 12
    •  Charles Schwab Institutional services is ourchoice for custody of your managed assets. Over 6,000 independent advisors useSchwab’s open-architecture platform They custody over 700 billion for independentadvisors The leading custodian for over 20 years2011 CopyrightAlbright Investment Management LLC 13
    • 2011 CopyrightAlbright Investment Management LLC 14
    •  Be prepared to accept the Powers and Dutiesof theTrustee. MostTrusts fail due to improperadministration Upon acceptance of the trust by the trustee,he or she is under a duty to the beneficiary toadminister the trust until the trust terminatesor trustee resigns, or is removed.2011 CopyrightAlbright Investment Management LLC 15
    •  Reg.9, Prudent Investor Rule and state –codified common law fiduciary duties Active participation in administration of the trust Loyalty to the beneficiaries Keeping and rendering clear and accurate recordsof administration Providing information requested by beneficiariesregarding the nature of the account’sassets, amount of the property, and alltransactions.2011 CopyrightAlbright Investment Management LLC 16
    •  Exercising care and skill that a person of ordinaryprudence would exercise Maintaining control over the property Preserving the trust property Enforcing trust claims and defending the trustagainst loss Segregation of trust property from all otherproperty not subject to the trust2011 CopyrightAlbright Investment Management LLC 17
    •  Earmarking bank deposits that are trust assets Exercising care when selecting a bank for trustdeposits Exercising reasonable skill and care to make trustproperty productive If required, paying income to appropriatebeneficiaries at reasonable intervals Dealing impartially and fairly with beneficiaries atreasonable intervals…but not necessarily equal2011 CopyrightAlbright Investment Management LLC 18
    •  Dealing with all co-trustees with respect topotential fiduciary breaches Documenting the request for – and making of –discretionary distributions Ascertaining if payments should be made directlyto a beneficiary Determining where beneficiaries are located Ascertaining if payments should be made for thebenefit of a beneficiary2011 CopyrightAlbright Investment Management LLC 19
    • 2011 CopyrightAlbright Investment Management LLC 20
    •  What is an Investment Policy. Modern fiduciary duty in choosing investmentsplaces more emphasis on risk management,appropriate diversification, and a prudentInvestment Policy that is consistent with theneeds of the beneficiaries. OurWealth Management includes both tacticaland strategic planning for the best results inaligning your trust assets with your investmentpolicy.2011 CopyrightAlbright Investment Management LLC 21
    •  Establishing the Charles SchwabTrustAccount and transferring the assets Develop an Investment Policy Design yourTrust’s Portfolio Quarterly Performance Review Continuous supervision and monitoring oftrust assets2011 CopyrightAlbright Investment Management LLC 22
    •  Why Delegate? Common delegable acts include the use ofbrokers, appraisers, agents, and specializedinvestment managers. When delegation is transferred to a third party,the responsibility for determining if it ispermissible and monitoring the agents chosenremains theTrustee.2011 CopyrightAlbright Investment Management LLC 23
    •  Successful CEOs and other powerful financialplayers dont monitor all of their ownfinancial activity - they have someone do itfor them. But you dont have to be the CEO ofa giant corporation to have people – partnerwith an independent investment managerand trust advisor for the best results.2011 CopyrightAlbright Investment Management LLC 24
    •  What if I already have a financial advisor orplanner?We understand that many of our clientsalready have advisors. Our value is that we cancomplement those existing professionals, such asyour attorney, CPA, Insurance Agent, and otheradvisors with specialized investment advice to helpprotect, preserve, and manage your family’s wealth. Is it Expensive? Our fees are competitive with otherlocal financial institutions offering the same services.We however, offers our clients a strategic value ofpersonalized private financial services directly to youregardless of where you keep your accounts.2011 CopyrightAlbright Investment Management LLC 25
    •  Where are my accounts held? Our qualified custodian for yourtrust assets are held at Charles Schwab, under our master accountfor institutional services. We have chosen Schwab Institutional aspart of our Best Execution Policy for our Clients. Do you manage other types of assets too? Yes, we are a fullservice financial advisory practice, so we can accept regularbrokerage or banking accounts, pension & retirements accounts,to name just a few. We can mange your complete Estate, includingthe Real Estate holdings. Do I need aTrust to get started? We are routinely referred byattorneys who practice inTrusts & Estates, so even if you are juststarting the process we can help set up an Estate Plan that makessense for you in cooperation with your other advisors and evenhelp in the selection of the right professionals for your family’sneeds.2011 CopyrightAlbright Investment Management LLC 26
    •  Thank you for your attendance We appreciate all referrals, and work withour Client Advisory Board to ensure we areexceeding your expectations. We look forward to working with you.2011 CopyrightAlbright Investment Management LLC 27
    • 2011 CopyrightAlbright Investment Management LLC 28