Expert Details
Trusts and Estates, Fiduciary Standards, Prudent Investor Act, Principal/Income Accounting
ID: 730052
Idaho, USA
Standards of care for the administration of estates, trusts, assets
Standards of care under the Uniform Prudent Investor Act
Standards of trust and estate accounting under the Uniform Principal and Income Act
Policy standards for discretionary distributions of income or principal to beneficiaries
Standards of care under the Uniform Trust Code
Compensatory and opportunity lost determinations
Fiduciary conflicts of interest (duty of loyalty)
Bank trust department trust and estate administrative policies
A local Trustee of a terminating trust hired me to assess his final trust accounting and proposed terminating distributions.The sole beneficiary of two separate trusts hired me to assess the administration of the trusts by the trustee.Local judges have appointed me as a fiduciary during litigation in several cases, with a variety of specified responsibilities.
Education
| Year | Degree | Subject | Institution |
|---|---|---|---|
| Year: 1987 | Degree: BA | Subject: Political Science and History | Institution: Dallas Baptist University |
Work History
| Years | Employer | Title | Department |
|---|---|---|---|
| Years: 2008 to Present | Employer: Undisclosed | Title: Owner | Department: |
Responsibilities:Serve as a Court-appointed Trustee and as Personal Representative for trusts and estates. Provide estate planning consulting to clients of local financial advisers. Provide trust consulting services for trustees and beneficiaries. Available as an Expert Witness in estate and trust litigation. |
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| Years | Employer | Title | Department |
| Years: 2001 to 2008 | Employer: Wells Fargo Bank | Title: VP, Senior Trust Administrator | Department: |
Responsibilities:Developed new trust and investment management business in the Inland Northwest region. Focused specifically on applying asset allocation principles to large and multiple managed investment portfolios. Designed estate plans for wealth management clients, partnering with private bankers and financial consultants. |
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| Years | Employer | Title | Department |
| Years: 2000 to 2001 | Employer: Bradford Trust Company | Title: VP, Trust Team Leader | Department: |
Responsibilities:Consolidated trust accounts resulting from PaineWebber acquisition of JC Bradford, serving as one of three Team Leaders. Administered >300 accounts exceeding $300 million in assets. Taught internal classes on trust principal/income accounting and fiduciary income tax. |
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| Years | Employer | Title | Department |
| Years: 1998 to 2000 | Employer: Independence Trust Company | Title: VP | Department: |
Responsibilities:Supervised operations during period when company grew from $30 million to $230 million in assets, including the development of process controls for funds management, securities transaction settlement, and client account reconciliation. Lowered firm’s cost of managing 125 accounts by creating and administering 2 pooled investment funds with $36 million invested, resulting in increased capacity for $25 million in additional new client assets. This also lowered annual investment management costs to clients by over $200,000. Rebalanced equity and fixed income investment portfolios totaling $95 million monthly, resulting in lowered annual deviation from allocation targets. Administered trust accounts over a 7 state region. Served as acting Chair of Trust Administrative Committee.Maintained trust relationship with international holding company. Grew account portfolio > 7 times to 57% of total firm assets, contributing more than 76% of firm gross revenue. Supervised the acquisition of trust assets from two financial institutions. |
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| Years | Employer | Title | Department |
| Years: 1995 to 1997 | Employer: American Factors of Nashville, Inc. | Title: President | Department: |
Responsibilities:Started commercial finance firm, placing > $2 million in private debt capital in accounts receivable financing. Achieved a 30% per month growth rate over 2 years. Initiated and closed all sales. Interest sold. |
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| Years | Employer | Title | Department |
| Years: 1983 to 1995 | Employer: Gardere & Wynne, LLP | Title: Trust Administrator | Department: |
Responsibilities:Started trust administration service for the firm and built it to $125 million in assets under administration, including securities, commercial real estate, agricultural properties, tangible personal assets, and limited partnership interests. Designed complex estate plans for high net worth individuals, including charitable trusts, family limited partnerships, split-dollar insurance plans, and plans involving closely held operating businesses. Developed estate tax and fiduciary income tax return preparation capabilities as a new revenue source. Principal in design of proprietary trust accounting software unique to Texas community property law. Developed expertise in federal estate tax, fiduciary income tax, and trust principal/income accounting principles. |
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Additional Experience
| Expert Witness Experience |
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| Multiple expert reports, deposition and trial testimony on estate and trust administration matters. |
| Training / Seminars |
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| Trustee Workshop. For Trustees, to gain a deeper understanding of the core trustee duties and the skills and traits required to manage the personal demands and dynamics of potential multiple generations of beneficiaries. For Grantors, to help in the process of selecting a Trustee. For Beneficiaries, to better understand the differing roles, rights and responsibilities of Trustees and Beneficiaries. |