Trust Case Profiles
Case Profile 1: Administering a Living Trust
Jack Rowlin had been a widower for several decades. He had lived a patient and careful life, raising a son by himself and assembling a significant estate from careful management of his salary as a sheet metal worker. He owned a small house that he had built in his time off from work and had several hundred thousands of dollars in annuities, savings accounts and bonds. Looking ahead, Jack saw that his son was settled with his family in another town. Jack had no one local to stay by his side and ensure that his finances were secure and his hopes and plans for his later years were respected.
Wanting to remain as independent as possible for as long as possible, Jack contacted InTRUSTment Northwest to plan for the administration of his Living Trust. This management took several stages. At first, InTRUSTment Northwest employed its investment expertise to preserve and protect Jack’s assets. Jack was a vibrant man who swam daily until he was ninety three. As he needed care arrangements made, InTRUSTment Northwest brought in skilled care managers and therapists to assure that Jack’s quality of life remained high. Details of his life were respected, down to the purchase of his favorite polo shirts. Jack wore white polo shirts every day, but he found logos showy and pretentious so his care plan reflected that the shirts purchased for him needed to be plain white, without logos.
Because of InTRUSTment Northwest’s careful attention to investment management, there were years that all of Jack’s care costs were paid for out of equity gains. When equity markets fluctuated, our extensive review process and constant adjustments assured continued oversight. Each quarter, Jack sat down with a fiduciary to review his net worth and cash flow. To the end of his life, Jack was able to be comfortable knowing his assets were safe and prudently managed through diverse investments.
Case Profile 2: Administering a Special Needs Trust
InTRUSTment Northwest originally met Alan Dupas in challenging, even tragic, circumstances. Alan was disabled and used a wheelchair for mobility. To provide for his future, Alan’s mother had left him over eight hundred thousand dollars in assets which were placed in a Special Needs Trust. Unfortunately, Alan’s uncle, who had been appointed to manage the Special Needs Trust benefitting Alan under the terms of Alan’s mother’s will, had stolen over two hundred thousand dollars and was actively looking to liquidate and convert the remaining assets of the Trust, an annuity and a land sales contract.
After being contacted by local Adult Protective Services staff on behalf of Alan, InTRUSTment Northwest used its expertise of forensic accounting and understanding of the legal options to quickly and effectively take control of the assets remaining in the Trust. Over the last six years, Alan has gone from facing life-threatening medical emergencies on a regular basis to enjoying a significantly enhanced quality of life. The pain and frustration he experienced when he had no supplemental care benefits no longer rule his life. Perhaps most important, Alan feels a sense of productivity and control. He is no longer a victim, but a partner in planning his own care with the help of trained professionals.
Of course, not all of the Special Needs Trusts InTRUSTment Northwest administers have experienced that level of drama. InTRUSTment Northwest has helped beneficiaries of Special Needs Trusts obtain lifesaving therapies and plan trips to Europe. InTRUSTment Northwest’s experience in person-centered planning and commitment to individual service assure that each beneficiary of a Special Needs Trust administered by InTRUSTment Northwest will benefit from careful planning, ready access to trained professionals, and a commitment to creativity in making sure their Trust will provide them with the best possible quality of life.
Case Profile 3: Administering a Testamentary Trust
After their mother and father passed away, the Williken family children each retained their own attorney. Although the family estate was significant and diverse, including real estate holdings and a seven figure investment account, the mistrust and confusion that had broken out among the children were causing tens of thousands of dollars in legal fees while real estate awaited care and investment assets remained highly concentrated in a few vulnerable stocks.
To preserve assets, reduce legal costs and assure the efficient administration of the estate, the family agreed to the appointment of InTRUSTment Northwest as a successor Testamentary Trustee of the family Trust. In addition to protecting and marketing real estate, inventorying and distributing precious and sentimental personal property and preserving investment assets, InTRUSTment Northwest provided each beneficiary of the Williken family with access and a voice. Under InTRUSTment Northwest ‘s administration legal fees for the parties to this case dropped from tens of thousands of dollars each month to a few thousand dollars per year.
InTRUSTment Northwest’s team is trained and committed to its tradition of service. Each Trust has a fiduciary who understands the legal, financial and personal issues of the Trust and is available to discuss everything from investment strategies to the value of a painting that had long hung over the dining room mantel. InTRUSTment Northwest understands that although experience and expertise are essential to Trust administration, the willingness to consider each unique situation and meet each family on its own terms are equally important.
When significant Testamentary Trusts result in litigation, legal fees in the high six figures and even seven figures are not uncommon. By agreeing to work through InTRUSTment Northwest families can reduce legal costs to a minimal level while retaining a voice in the administration of their family’s Trust. And, of course, InTRUSTment Northwest’s principles of efficiency, access and patience apply even more in situations where families are not in litigation, but simply want the comfort and ease of professional Trust administration by an organization committed to individual service.