Client Need

A couple in their early 70s with a $2 million portfolio were finalizing their estate plan with the goal of creating a legacy to benefit multiple generations. Our trust team recommended creating a family trust for their children and grandchildren. The couple wanted to select a trustee who could provide continuity throughout the years and the objectivity to determine the distributions without impacting family relationships.

Solution

An advisor from the Network introduced Mariner Trust as a solution. Not only was the couple assured of proper and professional administration of their trust, but they were also comforted by the fact that their  wealth advisor would continue to serve the family after their deaths. 

Result

Sadly, both grantors of the trust passed away shortly after finalizing and executing their estate planning documents. Mariner Trust was called upon to serve. Our first responsibility was to inventory and marshal all assets owned by and earmarked for the trust. This included $1 million in assets held by a few financial institutions and a home valued at $1 million. 

The couple’s desire was realized, as the family trust is now being professionally administered with no disruption of family dynamics and a continuation of their wealth advisor serving the investment needs of the family. 

From the wealth advisor’s perspective, the Network retained the existing $2 million it had been managing and now manages an additional $2 million in assets (after the sale of the home), for a total portfolio of $4 million. In addition, the wealth advisor illustrated to the beneficiaries the depth and breadth of investment options available to them and the high level of service provided, which led one of the beneficiaries to transfer their own personal portfolio of $750,000 to the Network.

This material is intended for informational and educational purposes only. No representations or warranties, either express or implied, are made regarding the accuracy or completeness of the information contained herein. Reliance upon information in this material is at the reader’s sole discretion. Case studies are not to be construed as an endorsement or testimonial of any of its past or current clients, nor any assurance that we may be able to help any client achieve the same results. Results may not be representative of the experience of others and are not a guarantee of future success.

Trust services are provided by Mariner Trust Company (“MTC”), an affiliate of Mariner Advisor Network. MTC is a state-chartered public trust company organized under the laws of South Dakota and serves to provide its customers with administrative trust services and other related services.

Mariner Advisor Network is a brand utilized by Mariner Independent Advisor Network (“MIAN”) and Mariner Platform Solutions (“MPS”). Investment advisory services are offered through Investment Adviser Representatives registered with MIAN or MPS, each an SEC registered investment adviser. For additional information about MIAN or MPS, including fees and services, please contact MIAN /MPS or refer to the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov).

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