A family had multiple trusts with family members and a bank serving as co-trustees. The bank was not performing to expectations, so the beneficiaries and family co-trustees sought to remove the bank and replace it with another corporate co-trustee. The family had a number of questions:

  1. How could the corporate co-trustee be replaced in the most efficient manner to avoid unnecessary costs and delays?
  2. The bank manages some of the trust assets, so how should the change in co-trustee be coordinated with a transition to a different manager of those trust assets?
  3. What banks or other corporate trustees should the family consider?
  4. How should the successor co-trustee be selected?
  5. What roles, responsibilities, fees and other arrangements for the successor co-trustee were appropriate, and how should they be documented and monitored?

After the sale of a private publishing business valued at $30,000,000, the wealth creator and members of his family were concerned about growing the purchasing power of their investments and avoiding the permanent loss of capital. They wanted to accomplish three goals:

  1. Achieve successful investment results
  2. Develop a gift and estate plan to transfer wealth over time to family and charities
  3. Educate the second generation, aged 18-24, on family values and the responsibility of managing the family’s wealth

A retired Fortune 500 corporate executive wanted to diversify his concentrated equity positions, preserve and grow the purchasing power of his assets, and develop a family wealth transfer plan. He and his family sought to accomplish five goals:

  1. Preserve financial security and independence
  2. Diversify their concentrated equity positions
  3. Achieve successful investment results
  4. Develop a wealth transfer plan to provide future support to the family
  5. Educate the second generation on family values and provide the tools for them to manage their future inheritance
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