Other Fiduciary Services

• Identifying all beneficiaries and introducing the ProFiduciary team to the fiduciary, the beneficiaries, and their representatives.

• Responding to all fiduciary communications on a timely basis and keeping the fiduciary and the beneficiaries informed on general estate administration matters.

• Communicating action item timeframes to the fiduciary and/or beneficiaries.

• Collecting all estate, or trust estate assets, documents and records.

• Safekeeping all assets, documents and records.

• Reregistering title to all assets and liabilities as necessary and update title to assets as necessary.

• Identifying and documenting all liabilities.

• Properly insuring all assets as necessary.

• Valuing all assets and liabilities and communicating those values to the fiduciary and/or beneficiaries.

• Providing the fiduciary and/or beneficiaries with periodic statements and/or accountings of assets and liabilities.

• Reviewing the allocation of all investments and making recommendations to the fiduciary to determine whether any assets should be sold, purchased or exchanged during administration period.

• Reviewing whether liabilities should be paid off, refinanced or maintained and making recommendations to the fiduciary.

• Providing notices to creditors as necessary.

• Developing an investment policy statement with financial advisor(s) given the timeframe to settle the estate and ultimate distribution of assets and making recommendations to the fiduciary.

• Coordinate with the fiduciary, co-fiduciaries and advisors as necessary regarding investment recommendations, decisions and action items.

• Investing all financial assets during the administration period utilizing the advice and services of financial advisor(s).

• Supervising financial advisor(s) investment performance, adherence to investment policy statement, reinvestment of cash, distribution, etc.

• Taking action on capital changes, corporate reorganizations, proxies and maturing items.

• Consulting with legal and tax counsel regarding trust administration, estate tax payments strategies, tax returns, and investments as necessary.

• Independently and impartially administering the estate, or trust estate, pursuant to the terms of the governing documents and/or state law for the protection and benefit of all current, future and contingent beneficiaries.

• Coordinating the preparation and filing of the final personal income tax returns and trust fiduciary tax returns, as necessary.

• Coordinating the preparation and filing of estate and/or gift tax returns, as necessary.

• Tracking and monitoring all accounts payable and accounts receivable payments.

• Monitoring medical care, insurance claims and reimbursements for the benefit of current trust income beneficiaries, as appropriate.

• Supervising property managers, tenant relations, and lease/rental negotiations.

• Filing and maintaining all estate administration records.

• Supervising real estate property maintenance, repairs, and capital improvements.

• Assessing need for leverage on real estate assets and adhere to loan covenants as necessary.

• Facilitating real estate sales, acquisitions and 1031 tax-deferred exchanges.

• Collecting rental income, royalty income and tenant reimbursements.

• Paying real property taxes, insurance, mortgages and other related expenses.

• Managing, or hiring third-party professional managers for non-financial assets such as: oil, gas and mineral interests; closely held business interests; private equity interests; intellectual property; etc.

 

Note: any reference to ProFiduciary communicating with beneficiaries in addition to the fiduciary may be proscribed by the fiduciary in writing.