Asset management and reporting
Our goal is to provide accurate, timely, and effective asset management and reporting. When we achieve this, our beneficiaries are able to keep us accountable and have a peace of mind that their trust or estate is managed professionally.
Our firm manages both residential and commercial properties, which have included everything from clients' homes, rental properties, apartment complexes, office buildings, and acreage. We also actively manage farms and timberland. Regarding personal residences, we annually inspect homes for safety and provide ongoing maintenance to protect the value of the asset and improve the quality of life for the resident. We also monitor and pay taxes and insurance. Properties which are not the residence of the client are managed to produce maximum return to the trust. This includes repairing and remodeling properties for sale or rent, managing rental property, developing vacant land or hiring and monitoring tenant farmers or timber managers.
It is our policy to retain the client's investment advisor to manage the client's account. Our role is to determine the financial needs of the client and balance those needs with the requirements of the trust or other controlling document. After we develop a personalized asset allocation, we work with the financial advisor to develop a portfolio consistent with the allocation and monitor account activity. Annually, we review the needs of the beneficiary and meet with advisors to make any necessary adjustments to the investment allocation and review performance of the assets.
Unusual or non-liquid assets are not a problem for us when managing trusts. We are often presented with other types of assets, such as commodities, jewelry, silver, mineral rights, and art or other collectibles. In one instance, we had a trust funded in part with an antique automobile. Our experienced trust officers are knowledgeable in the process of obtaining values and, if necessary, marketing these types of assets.
Clear and timely reporting allows the beneficiaries to see the performance and management of their assets. While it can be difficult to understand financial statements, our Trust Officers are always available to discuss any questions a beneficiary might have regarding their reports.