Fiduciary Advisory Services:
Situation: Bank or trust company would like to accept one
or more trusts with substantial readily marketable securities but the trust(s)
also contain closely held assets. The
bank or trust company does not have any or sufficient staff with the appropriate
background and credentials to manage these closely held assets but it is well
equipped to manage the other assets of the trust(s).
Solution: The bank or trust company accepts the account as a trustee
and contracts with BREIT Services to provide the oversight of the closely held
assets held in trusts and estates. Alternatively,
the bank or trust department could decline the trustee role in favor of an
executive from BREIT Services or another individual, with the bank or trust
company then serving as custodian and investment manager for the publicly traded
∑ Situation: The trustor would like to have a trusted family member or friend with good decision making skills to serve as trustee of their trust. However, the trustor does not want to burden this person with duties that the trustee may not have the time, experience or expertise to handle. Solution: BREIT Services serves as a agent to the trustee ensuring that the administrative duties are properly handled and providing recommendations for the trustee to consider and decide on.
∑ Situation: An owner of a private company in California wishes sell his/her business and, while he/she feels the logical buyer will probably be a well known competitor, they want to ensure that they get the maximum value for the company while minimizing managementsí time spent marketing the company. Solution: BREIT Services is retained to market the company while management stays focused on business operations so that the business is more marketable. In a rare instance when the business can not be sold for the necessary price, then the company will have more likely maintained its profitability/viability with management remaining focused on operating the company.
Independent Board Member:
financial institutionís trust department serves as a trustee of a trust that
holds a majority of substantial minority position in a company while the
institutionís commercial finance group has extended credit to that same
company. While the financial
institution realizes that it needs to have representation on the board given its
holdings as trustee and it may have a fully capable and staffed department to
provide that representation, the institution wishes to minimize any conflict of
interest concerns given its credit position with that company. Solution: Nominate a principal of BREIT Services to serve on the
board,.thereby, providing a means to meet the fiduciary obligations emanating
from the trustee role by someone that fully understands those obligations while
eliminating the direct link to the credit exposure.
∑ Situation: A business owner simply understands that his/her company should benefit from a board of directors which includes diverse backgrounds and experiences. Solution: Nominate a principal of BREIT Services to serve on the board since the business of BREIT Services inherently involves an exposure to many industries, markets and situations.