Trustee Services: Life Settlement Industry and Asset-Based Structured Financing
Expertise, Integrity, Objectivity:
Daily & Knudson LLP is the foremost multi-jurisdictional law firm specializing in Trustee, Escrow Transactional Structuring services for the life settlement industry, and ABS and CDO structured financing transactions. As professional trustees, our attorneys have vast experience, knowledge and skill in dealing with the legal issues involved in the financial and tax industries. As specialists in this area, our professionals are able to quickly and creatively advise our clients on even the most complex transactional structures. With sixteen years in practice, and since 1998 over a thousand trustee and escrow transactions totaling over three hundred million dollars, our reputation is forged with financial institutions, investment houses, life insurance companies, brokers, and other financial providers for expertise in efficient, competent and timely service; integrity and objectivity. The firm is a well-respected member of the life settlement industry.
This reputation comes from the remarkable knowledge and skill attorneys Daily and Knudson have in developing and nurturing relationships with their clients. Each member of the firm understands that the role of a Trustee is to be responsive to the needs of Beneficiaries while honoring the principals and guidelines of the fiduciary relationship.
With Daily & Knudson LLP providing trustee services all parties are assured of the following:
- Expertise. When we serve as trustee, you can be assured that the trust will be administered at all times for as long as it endures by professionals dedicated to serving your needs.
- Integrity. We will manage the trust "by the book," with defined fiduciary procedures and regular account reviews. Daily & Knudson LLP understands that:
- The most important legal obligation of a Trustee is “to account for his handling of the beneficiary’s business.”
- The burden of proof to establish his fidelity to the trust is upon the Trustee
- This burden requires the Trustee “to render an account, and to show that all his trust duties have been performed and the manner in which they have been performed. It is assumed that the Trustee has means of knowing and does know, what the principal or cestui que trust, cannot know, and is bound to reveal the entire truth.
- Thus it is a “primary duty” of a Trustee to “maintain records of transaction so complete and accurate that he can show by them his faithfulness to his trust. It is not enough for him to know that he is honestly performing his duty. Since, generally, the burden of proof rests upon him to prove fidelity; he must be able to sustain his position by honest records.
- Objectivity. A trustee is required to administer the trust according to the trust document within the bounds set by law. As trustee we'll make objective decisions within the four corners of the trust document for the benefit of the beneficiaries.
Clients of Daily & Knudson LLP are welcomed by skilled, talented professionals who provide caring, knowledgeable, responsive service. To Daily & Knudson, being a professional and having pride in your work is not a sometime thing, it is not something that you do only once in a while, it is a habit. It is an all the time thing. Daily & Knudson LLP provides conventional wisdom, innovative solutions and extraordinary results.
The following are just some of the trustee services provided at Daily & Knudson LLP:
- Management of Grantor Assets and Beneficiary Distributions
- Securities and/or funds transfers as directed
- Full Service Trust Department
- Reviewing and implementing the terms of the trust
- Collecting and distributing and/or reinvesting income from dividends and interest
- Establishing and maintaining accounting records, which includes recording all receipts and disbursements
- Paying bills and satisfying other financial obligations
- Tracking transactions
- Regularly providing necessary documentation to beneficiaries
- Distributing shares among beneficiaries
- Federal Tax Filings
- Administration and Oversight of Intermediary Trust Service Providers
- Documentation of all Transactions
- Chain of Custody and Proof of Purchase or Sale
- Trustee Administrative Duties
- Compliance with and Integrity in all Transactions
Learn More About Our Trustee Services
If you would like more information about our professional Trustee services, please contact us.