This is where our team at Tembo is able to put our expertise to the test and simplify the seemingly impossible!
One of our clients was in this exact situation. They had a very complex trust structure that they needed our help with.
We spent a lot of time analyzing where the client’s assets were and how to allow particular beneficiaries to have benefit of their money for now and other beneficiaries to not. We also determined what needed to go to whom, the tax ramifications and how to handle taxes in the future.
Our team played a key role in working alongside the brokers, attorney and our client in order to put together a tax projection for the upcoming year that would allow our client to understand what to expect.
We knew it was crucial that our client understood what was going on throughout the process and we made sure they were involved in the important decisions.
This situation is a great example of how our team is able to communicate complex concepts in simple ways. We knew how to break it down and work with our client in a way that allowed them to maximize their access to the trust assets while also upholding their fiduciary duties to the other beneficiaries.
Working as a team and being able to directly identify the problem and create solutions are also key skills that we capitalized on.
Our client had a complex trust situation involving different needs of different beneficiary classes.
We helped them find the right path for each of the different classes of beneficiaries and took care of calculations, explanations and helped them understand what was going on.
Everyone, including the brokers, attorney and our client were on the same page, the needs of different beneficiary classes were met, and we were able to work with the attorney on a highly professional level while still able to work with the beneficiaries on their level.
At the end of the day, everyone involved in the situation was happy and our client’s problem was solved.