Conservatorships
A Conservatorship is established for the purpose of protecting a person’s financial assets. A Conservatorship is the legal granting of authority to act on behalf of an incapacitated person, i.e., someone who is unable or unwilling to reasonably manage his or her own financial affairs. This category includes minors, senior adults suffering from senility, individuals with brain injuries, or individuals with addictive behaviors such as drug abuse, alcoholism, compulsive spending, or gambling.
While The TrustPeople™ is experienced in handling complicated cases, requests are considered on a case by case basis. Using a team approach, we work with counselors, attorneys, caregivers and other professionals as may be appropriate for particular cases. We protect the individual’s financial assets and control the flow of funds to pay for professional services.
Estate Administration
• Manage and distribute assets according to the will
• Safeguard the interests of the current beneficiary and future beneficiaries
• Hire attorneys, appraisers or other professionals as necessary
• File tax returns
• Settle creditor claims
• Distribute estate assets
Our Fees
Our fees are probably similar to those charged by bank trust departments. However, we feel our personal service is superior. We will gladly mail you a fee schedule and discuss what fees would apply to your specific case.
Trust Management
A trust, like a corporation, is a legal entity which usually holds assets, pays taxes and exists for some stated purpose. The donor or whoever creates the trust usually specifies the purpose, such as to hold assets for a child, perhaps until the child reaches age 30. Many other purposes exist. Someone or some company is named as the trustee to manage the trust. Trust documents should be written by an attorney who specializes in that topic.
All trusts share a common structure consisting of:
- A grantor, sometimes also called a donor or trustor, who establishes the trust,
- A trustee, who administers the trust and holds title to the assets,
- A beneficiary, for whom the trust is established.
Our trust services include:
• Administration
• Bill paying and record keeping
• Distribute income to beneficiaries
• Beneficiary communications
• Invest trust assets
• Make tax decisions
• File tax returns
• Coordinate meetings with legal or accounting advisors
Who are our clients?
Trusts can accomplish an almost unlimited number of financial planning objectives and the reasons for establishing a trust are as varied as the people who need them. Our goal is to help ease the administration and management burden by offering expertise, empathy and understanding. The following are a few examples of past clients:
• Trustee for a young man whose parents were both killed in an accident.
Referral source- Family stock broker.
• Trustee of an elderly woman. After the death of both her and her beneficiary, the remaining assets were distributed to charity. Referral source- Family Member.
• Trustee of a “special needs” trust for the quadriplegic victim of an auto accident. Referral source- Attorney.
• Court appointed conservator for a young man with mental impairment.
Referral source- His terminally ill parent.
• Court Appointed conservator for a woman with Alzheimer’s.
Referral source- Social Worker from Adult Protective Services.
• Estate- Personal representative for the contested estate of a couple who died without a will and who had no children.
Referral source- Attorney.
• Estate- Named as personal representative & Trustee by several families who want an impartial administrator rather than placing one family member in a difficult position.
Referral source- Various.