Greg Bowman, CEO

As we look past Labor Day and to the end of the year, we are reminded of the tsunami of new trusts created in 2012 with the last major change in the Federal Estate Tax laws. Accordingly, more and more trust & estate attorneys are saying they are busy and unable to take on new clients for estate planning appointments.

Perhaps it is the uncertainty of the proposed step-up in cost basis legislation, the certainty of a downward revision to the Federal Estate Tax exemption, or the uncertainty around state law changes… Regardless of the reason your wealthy clients are coming to you to update their estate plans, it will result in many new trusts being created in the remainder of 2021.

How can we help your practice? We can (i) save you time, (ii) be flexible as you create customized estate plans ensuring your clients are able to maintain their desired level of control, and (iii) serve as professional trustee with responsiveness, compassion and integrity.

Due to tax strategies often being a driver for trusts this year, the need for a professional trustee has increased. After all, individuals don’t want to keep up on the “alphabet soup” of acronyms for these sophisticated estate plans (CRT’s, GRAT’s, SLAT’s, IDGT’s, ILIT’s, QRPT’s, etc). As a resource to you, your colleagues, and your clients, we will:

Save you time by:

  • Encouraging clients to contemplate who to select as trustee ahead of your meetings
  • Speaking with your clients—with our experience and story-rich dialog, we can usually determine whether a professional trustee is needed
  • Providing your clients with materials to help increase their knowledge in several trust-related areas (examples listed below)

Be flexible in many ways including:

  • Finding creative solutions to unique situations (often involving directed trusts) 
  • Incorporating complex assets into your trust design strategies
  • Making sure the family maintains the control they desire
  • Providing estate administration and acting as a financial power of attorney

Provide your clients with a compassionate and responsive team:

  • A team that is personal—your clients are known by name, not by number. We seek to understand individual circumstances, family dynamics, and the goals and intentions of the trustor(s).
  • We are ready and available to serve your clients and strive to earn their confidence in selecting a professional trustee.

Need immediate resources?

  • Want great standard language for directed trusts? Request here
  • Choosing a family member as trustee? Click here
  • Clients considering a directed trust? Click here

To learn more about how we can enhance your client relationships, call Krista Fitzpatrick, New Client Service Manager, at (509) 466-3024 or by email at kfitzpatrick@nwtrustee.com

Published Date:  September 2021