How I Do It
The successor trustee or the drafting attorney hires Matthew Price, Estate Specialist to expedite the administration. I have the experience to manage all aspects of the settlement from the initial notice of death through the date of death valuation, marshaling of the estate assets, preparation of notices and documentation if needed, authoring of a trustee compensation study, production of the annual account, through the final allocation, disposition and settlement agreement. I will manage as much of the settlement project as I am given responsibility for by the successor trustee or the drafting attorney.
Who Is Our Client
Matthew can be engaged by either the successor trustee or their legal counsel. I do not aspire to replace any of the other settlement team members’ core competencies. I will do the work that no other member of the settlement team has the time, interest, or competency to do. My ambition is to help settle the estate twice as fast at half the cost with less risk than could reasonably be done if I am not involved.
What’s Included
- TASK LIST: I develop and maintain a comprehensive and detailed task list of all activities of the settlement through robust project management software.
- PROGRESS REVIEW: I hold bi-monthly phone calls (15-20 minutes) with the trustee to report on the progress and completion of the assigned tasks.
- MONTHLY REPORTING: I provide a monthly written report to the settlement team (trustee, attorney, CPA) on the progress of the settlement with particular emphasis on the tasks that are “stuck” and need attention.
- GOVERNANCE REPORTING: As governance experts I provide reports and documents for the administration which include, but are not limited to a (1) date of death balance sheet, (2) trustee compensation recommendation, (3) Investment Policy Statement for the trust assets, (4) detailed exhibits for the production of the 706 when needed and (5) production of the Annual Account for the trust beneficiaries.
- ONLINE VAULT: I maintain an online vault in which all critical documents, communications, exhibits, and other supporting work products are stored securely. Encrypted and shared with the trustee and attorney.
- SERVICE PROVIDERS: Where the trustee does not currently have support from service providers – bookkeepers, appraisers, asset inventory managers, locksmiths, rubbish removal, brokerage services, what I don’t provide, I will find reputable local candidates for the trustee’s consideration.
Simple Pricing
The fee for the Estate Settlement Service is $3,000 per $1.0m of estate value, with a minimum fee of $6,000. This fee is paid by estate/trust and does not does reduce the compensation paid to the executor/trustee.