After the thoughtful consideration of your options, you may request that your Foley attorney serve as trustee or successor trustee. This request is entirely appropriate when your attorney is a key advisor to your family or when he or she has unusual familiarity with your family affairs and financial position. As trustee, your attorney’s approach to his or her role is marked by objectivity and flexibility.
Objectivity: Your Foley trustee acts as an independent advisor, serving the best interest of your family. To do so consistently, your attorney must remain independent of outside influences, serving only you and your family’s best interests.
Therefore, Foley trustees typically choose not to perform certain functions such as investment management. Rather than buying and selling stocks, they hire professional investment managers and advisors, typically at discounted, institutional rates.
FOLEY Private Client Services can produce quarterly investment performance reports for you and the Foley attorney serving as trustee. These and other resources allow for the empirical and subjective evaluation of your investment advisors and managers.
To ensure objectivity, Foley trustees do not participate in fee-sharing or referral compensation arrangements. Foley believes that objectivity is preserved by selecting the best available professional investment managers, and holding them accountable for their investment choices.
Flexibility: Your Foley attorney appreciates your unique needs and those of your family. He or she respects the years spent developing professional relationships or supporting certain family obligations.
Your Foley attorney’s experience and connection with you and your family allow him or her to provide customized and flexible service as a trustee. The trustee services are backed by the wealth administration and reporting capabilities of FOLEY Private Client Services.
FOLEY Private Client Services is uniquely suited to accommodate your specialized requirements, across multiple family generations.