Lorenz Fiduciary Services, Inc.

You can really help this client by guiding him through the Estate Planning process.  Help the client begin by encouraging him to contact a reputable Estate Planning Attorney.  When the client is ready to name a Successor Trustee, have a list of Professional Fiduciaries with whom you are acquainted or with whom you have worked.  You can help the client choose by assuring him that a Professional Fiduciary, acting as Trustee and Executor, will help to ensure the continuity of the client's plan, as you and he have developed it.  If the clients trust goes to a bank or trust company, you may no longer have the opportunity to manage for him.  If your client is in denial about how their family members may deal with these issues, ask them to watch a short video on the topic.

If your broker/dealer has a trust company, be sure that it meets your standards for client care and attention, or be willing to supplement with your own services to the client.  If you have ever considered changing your broker/dealer relationship, this may be worth considering - whichever company you work with, or if you are an independent, the Professional Fiduciary can rely on you to continue managing the client's funds, just as the client did. 

Once named as Successor Trustee, a bank or trust company has its own investment department which, regardless of service or performance, will manage the clients funds, once the trust document becomes effective.  Learn more about potential fiduciaries in "Who Needs a Professional Fiduciary?". 

A Professional Fiduciary (like Jane Lorenz and Marguerite Lorenz), working independently, has the flexibility and responsibility to select the best financial services resource for each trust she manages.  At Lorenz Fiduciary Services, we will never sell financial products, as we always rely on the expertise and professionalism of the financial advisors we work with.  The cases we manage either come with a financial advisor, or if the client did not have one, we hire a financial advisor once we become trustee.  The financial advisor is asked to produce an Investment Policy Statement for us.  We work through the plan together and we keep you, our financial advisor informed as to financial changes such as medical costs, client needs and subsequent additions to the investment portfolio (such as proceeds from real estate).

Take action to keep your clients over the long term:

Discuss the future beyond retirement; what gives the client a sense of purpose?

Collaborate with Estate Planning Attorneys and Professional Trustees

Quarterback the Estate Planning Process

Introduce Clients to Professional Fiduciaries
Client completes Estate Plan Documents with Attorney
Follow up is scheduled with Fiduciary and Client
Continue working with Client

When Client is no longer able, work with Successor Trustee

Your client is depending on you to help him make good decisions the right way.  Be there to consult with him and to complete the process.  

Once the estate plan is done, you can count on Jane and Marguerite, as the named successor trustees, to work together with you and the client in the following ways when we are named (as Successor Trustee, Executor, POA Finance) and before the trust is active:

• We keep your clients file up to date, at no charge to them
• We visit with the client once a year, at no charge 

Once the Trust is active, we work with you as professional team members:

• We continue working with you when the client becomes incapacitated or resigns as trustee
• We work with you to complete our distributions after death and/or
• You continue managing the sub-trust accounts