EPCA PRESENTATIONTHE INDEPENDENT TRUST COMPANY EXPERIENCE   OCTOBER 21, 2009
AGENDA• History• Services Offered• Fees• Examples Where Independent Trust  Company Useful• Conclusion
HISTORY• Pre-Early 1990’s• Change in Cross-Ownership Legislation• Bank Owned Trust Company Evolution• Different Business F...
SERVICES PROVIDED•   Executor or administrator of estates•   Trustee of trusts•   Substitute decision maker•   Agent•   N....
FEES•   Legislated maximum in B.C.•   May be higher with client consent•   Our fees are usually lower than maximum•   Gene...
EXAMPLES WHERE INDEPENDENT   TRUST COMPANY USEFUL• Smaller Estates  – Where charities are the only beneficiaries  – Where ...
EXAMPLES contin.• Smaller Trusts  – Trusts with beneficiaries receiving provincial    disability benefits  – Trusts for gr...
EXAMPLES contin.• Larger Estates & Trusts  – Client wants to use independent trust    company so can continue to use other...
EXAMPLES contin.• Larger Estates & Trusts contin.  – Client wants to deal with locally based trust    company  – Client on...
EXAMPLES contin.•   Substitute Decision Maker    – For Power of Attorney, same situations as      above with executor (e.g...
EXAMPLES contin.• Agent  – Smaller estate and charity wants to honour    wishes of donor who appointed individual at    ch...
THANK YOU!• Any questions?• Please contact us:     John Blackmer, LLB, MBA     President & CEO     Suite 1201, The Standar...
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STCL EPCA - John Blackmer - Solus Trust

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STCL EPCA - John Blackmer - Solus Trust

  1. 1. EPCA PRESENTATIONTHE INDEPENDENT TRUST COMPANY EXPERIENCE OCTOBER 21, 2009
  2. 2. AGENDA• History• Services Offered• Fees• Examples Where Independent Trust Company Useful• Conclusion
  3. 3. HISTORY• Pre-Early 1990’s• Change in Cross-Ownership Legislation• Bank Owned Trust Company Evolution• Different Business Focus• Opportunity for Creation of New, Independent Trust Companies across Canada• Process Involved
  4. 4. SERVICES PROVIDED• Executor or administrator of estates• Trustee of trusts• Substitute decision maker• Agent• N.B. Non-deposit taking and no affiliation with any other financial institution
  5. 5. FEES• Legislated maximum in B.C.• May be higher with client consent• Our fees are usually lower than maximum• Generally no minimum fees• No fees in some cases
  6. 6. EXAMPLES WHERE INDEPENDENT TRUST COMPANY USEFUL• Smaller Estates – Where charities are the only beneficiaries – Where long time bank customer – Where named executor predeceased and no local next of kin or beneficiaries – Where intestacy and next of kin cannot agree – Where most assets held jointly and survivor unable to act as executor
  7. 7. EXAMPLES contin.• Smaller Trusts – Trusts with beneficiaries receiving provincial disability benefits – Trusts for grandchildren under a will – Trusts for spendthrift family member – Insurance trusts – Trusts for incapable beneficiaries (e.g. litigation settlements)
  8. 8. EXAMPLES contin.• Larger Estates & Trusts – Client wants to use independent trust company so can continue to use other independent financial service providers – Complicated matter involving family dynamics and/or challenging assets and administration requires additional personalized service
  9. 9. EXAMPLES contin.• Larger Estates & Trusts contin. – Client wants to deal with locally based trust company – Client only needs alternate trustee (e.g. alter ego or joint partner trust) – Client needs administrator pendentelite
  10. 10. EXAMPLES contin.• Substitute Decision Maker – For Power of Attorney, same situations as above with executor (e.g. smaller estate and no local next of kin or friend or larger estate and want independent firm) – For Committee, smaller estate or larger estate and family want to be co-committee with professional
  11. 11. EXAMPLES contin.• Agent – Smaller estate and charity wants to honour wishes of donor who appointed individual at charity to be executor – Smaller estate and executor needs assistance due to fact that they are out of town, busy, family dynamics or inexperienced with estate administration
  12. 12. THANK YOU!• Any questions?• Please contact us: John Blackmer, LLB, MBA President & CEO Suite 1201, The Standard Building 510 West Hastings Street Vancouver, B.C. V6B 1L8 T: 604.683.5949 F: 604.683.3148

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