Reinhart’s Trust Services team helps individual trustees navigate increasingly complex tax laws, heightened standards for trustee performance and risk of personal liability in the administration of a trust. We counsel trustees on the day-to-day administration, investment planning and fiduciary role of their trust while always keeping in perspective the significant responsibility that trustees carry.
The benefits of a trust in preserving and directing wealth are many, but at times the complexity of managing a trust while meeting deadlines and addressing difficult beneficiaries may be more than a trustee wants to assume alone.
Our attorneys serve as knowledgeable advisers, providing our clients with practical and experienced assistance in carrying out their fiduciary duties. We assist our clients with the objective selection of investment providers – or, if our clients prefer, to continue working seamlessly with the financial adviser they designate.
Our comprehensive Trust Services offer encompasses the following aspects of trust administration:
Reinhart’s Trust Services attorneys are also asked by some of our clients to act in the official role of trustee, serving as a trust’s formal guardian. In this more active role as the client’s representative, the attorney ensures that the client’s wishes are carried out as they have been set forth in the trust document.
Our clients have a desire to preserve and direct their wealth so that it will be protected and passed on to their loved ones or used to further their goals. Reinhart attorneys have the expertise necessary both to create trusts and to guide the administration of such trusts to ensure that clients’ objectives are met.
Our Trust Services attorneys regularly provide counsel on the following matters:
- Fulfillment of the grantor’s intentions as to the trust’s assets
- Assistance with the selection of well-established and carefully assessed independent investment advisers, the negotiation of investment fees and the continued monitoring of such advisers
- Fulfillment of statutory requirements through the ongoing review of investment policies designed by the trust’s independent investment advisers to protect and increase the trust’s value
- Management of life insurance policies, including the issuance of withdrawal notices and other administrative requirements
- Management of other special assets, such as real estate and closely held stock
- Preparation of annual accountings to comply with statutory requirements
- Preparation of fiduciary income tax returns (if an accounting professional is not part of the client’s team)
- Coordination of other services designed to keep our clients informed and satisfied with all trust matters
While banks and other law firms may offer similar services, Reinhart’s Trust Services combine our unique focus on understanding our clients’ interests and needs with building a strong, lasting client relationship. If you are a trustee, we will assist you in performing your fiduciary duties while minimizing exposure to personal liability. If you choose to have a Reinhart attorney serve as your trustee, we – in conjunction with your investment adviser – will work with you and for you to establish a personalized plan that will protect your trust to preserve your vision for the future.
Trusts and Estates Chair Jennifer D’Amato named a “Leader in the Law” by Wisconsin Law Journal.
Multiple options exist for charitable giving when preparing your estate with the three most common options being donor advised funds, charitable trusts and private family foundations. Each option has advantages and disadvantages, so it is important to align your charitable giving with a holistic estate, financial and tax plan.