Fiduciary Consulting

Formed out of the insights and relationships developed from my career, the book, and podcast, “Wealth Actually LLC” provides consulting services centered around fiduciary decisions for individuals, families and businesses:

  • Understand fiduciary, family office, family dynamic and trustee processes and conflicts with the goal of improving cost efficiency and mitigating risk
  • Access the top resources in:
    • Asset and investment management
    • Wealth management and lending
    • Legal representation
    • Dispute resolution
    • Family Office Fiduciary Integration and Support
    • Insurance
    • Tax/structuring Advice
    • Unique Asset Administration (incl. real estate, closely held businesses, and digital assets)
    • Valuation of illiquid assets including art and collectibles
    • Family Governance and Future Generation Integration
    • Estate Execution and Probate Support
  • Align the fee structures of the service providers and the family’s needs

Specific Trust and Fiduciary Capabilities

Trustee Selection, Succession or Replacement

  • Helping families deal with trustee succession, replacement or search questions
  • Helping a family develop a set of criteria that will help them choose the right person to be
    • Trustee
    • Trust protector,
    • Investment/distribution advisor and
    • Other roles and committees.
  • I also help to ensure each of these roles are properly supported and surrounded by proper expertise.

Next Generation Fiduciary Education

“WA” can help families communicate the “what and why” of an estate plan and trust structure to increase administrative efficiency, reduce or mitigate future conflict, and improve family communication, buy-in and integration with overall family governance.

Trustee Audits and Assessments

Taking individual Trustees through an audit and, based upon our findings, recommend or suggest ways to improve or best practices for them to consider. “WA” is available to evaluate an incumbent trustee.

Alternative Dispute Resolution for Fiduciary Matters

“WA” can help resolve a fiduciary related dispute through negotiation or mediation saving time and aggravation.

Trustee Conflicts or Bias Resolution

“WA” has experience in diagnosing and addressing areas where trustees are likely to face conflicts and can help trustees to steer through these challenging situations.

Trustee/Beneficiary Disputes

With years of practical day to day experience, “WA” can help trustees or beneficiaries resolve disputes quickly.

Trustee Matters Dealing with Mental Health

This is among the most challenging area that a trustee or family can face. “WA” has the professional ecosystem that can help families cope with important decisions and help ensure that a trustee is equipped to deal with different circumstances.

Fiduciary Tax Matters

Making the correct tax decisions about how transactions in a trust should be treated is an area that is often misunderstood and can cause significant problems. “WA” can provide assistance to help trustees make the right decision.

Trust Situs or Jurisdiction Questions

In the rapidly changing legal landscape, this is an are that is often taken for granted. “WA” can help trustees look at whether they should consider choosing or moving the situs of a trust to a more favorable jurisdiction.

Trustee or Executor Compensation Disputes

Trustee and Executor roles are often complicated and require huge time commitments we can determine what reasonable compensation is for the work being done.

Significant Collection Valuations or Disposition Issues

“WA” can help identify the right experts to help get a fair valuation and determine the right way to dispose of important object or collections to meet family objectives.

Charitable Gifting Issues

“WA” can negotiate the terms of a gift and help obtain appraisals and documentation that will help ensure a successful gift that meets the donors wishes.

Use/Abuse of Trustee Discretion

“WA” is familiar with how to resolve discretionary disputes and ensure that both trustees and beneficiaries understand the terms under which discretion can be exercised.

Trustee Forensics

“WA” can reconstruct and review what actions have been taken by a trustee and put together a review of activities and recommend a course of action.

Fiduciary Competence Issues

I can helping families through this delicate subject and help plan on ways to ensure that a family trustee will always be able to fulfill their duties.

ILIT Consulting

“WA” can helping trustees of Irrevocable Life Insurance Trusts discharge their unique responsibilities around trust owned life insurance

Trusts with Non-Traditional Assets

“WA” consults with trustees around the legal responsibilities, stewardship, custody and management of non-traditional trust assets including

  • Closely-held businesses
  • Real estate
  • Private equity and hedge fund interests,
  • Collectibles
  • Digital assets including cryptocurrencies and NFT’s.

Private Trust Companies and Other Trustee Structures

“WA” can helping to evaluate the costs, efficiency and long-term issues of using

  • Individual Trustees
  • Corporate Trustees (including fee analysis)
  • A Private Trust Company Structure
  • Hybrid Structures
  • Individuals in specific fiduciary and committee roles

Contact Frazer for more information.

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