Preserving Family Legacy, Generation after Generation

Rooted in exceptional client service and expert guidance, we are an independent trust company committed to providing a personalized approach to trust administration and estate planning.

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We create security for families and exceed expectations through quality, timely and innovative solutions.

Serving Families

Valuing Our Families

We provide best-in-class fiduciary services in a proactive, high-touch, personalized service model like that of a family office environment. The experience and expertise of our advisors often provide opportunities to add value as a member of the advisory team beyond basic administrative functions.

Our most successful relationships are those where we can collaborate and coordinate with the family’s other advisors (investment, legal, tax, estate planning and financial planning) to deliver a more efficient and effective result. We do not offer investment management services, which allows us to work effectively with families who have a pre-existing investment management relationship.

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FAQs

Frequently  Asked Questions

Here are answers to common questions about us.

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What is your client service approach?

As a trust company dedicated to high-touch, personalized service, we place significant value on client service responsiveness and expect client inquiries to be responded to within twenty-four hours and answered in a timely manner. Our clients have a dedicated client service team with multiple contacts within Magnolia. Our CEO will periodically confirm client satisfaction and is available to you for any discussions.

How often will we have meetings?

Magnolia coordinates with each client to identify an acceptable meeting frequency. The most common frequency for client meetings is quarterly, but our meetings vary from weekly check-ins to annual reviews.

Magnolia also coordinates with appointed investment advisors to review and establish the investment objectives (return objectives, time horizon, cash-flow requirement, tax considerations and other issues centered around the investment program). This type of meeting usually occurs either quarterly, semi-annually or annually.

What periodic reports do you provide?

Magnolia provides account statements on a routine basis. Our reporting protocol is flexible and can be customized to fit the client’s needs as well as advisory partner’s needs. Typically, clients receive statements on a quarterly, semi-annual or annual basis. Client statements are available in paper or electronic format. A client portal is also available for historical statements, activity and viewing holdings.

How do you manage communications to beneficiaries and their expectations as to distributions?

Magnolia Trust’s goal is to provide a customized and personalized experience for its clients. Beneficiaries will have a dedicated service team to address any questions or concerns. Our philosophy regarding distributions is to make them in accordance with the terms of the trust document, taking into account the needs of the beneficiary, with consideration being given to the grantor’s intent through directive language or correspondence provided by the grantor.

Magnolia will work with the beneficiaries to develop a distribution program from the trust. This involves listening, understanding and documenting the full nature of any requests and determining if the request would be appropriate given the distribution language of the trust.

How do you view the grantor’s wishes as to distribution decisions in a discretionary trust?

As the trustee responsible for discretionary disbursements, our services around a distribution request would include:

Review of the trust’s dispositive provisions as they relate to the requesting beneficiary.

Consideration of the investment and tax ramifications of disbursements from the trust to ensure tax and investment efficiency.

Counsel and coordinate (as needed) with beneficiaries to fully understand both the nature and the amount of request and ensure the beneficiary understands the distribution process.

Review all supporting documentation and recommendations internally through our fiduciary governance channel to ensure any final decision is documented appropriately.

Magnolia makes distributions on a daily basis and averages a turnaround time of 1-2 business days for routine requests. Larger requests may require additional time for consideration, although we understand the importance of these requests and strive to act as quick as possible without delay. Discretionary distributions are first considered for approval by the dedicated trust officer.

How do you interface with the investment advisor as an administrative trustee?

Magnolia first meets with the investment advisor to understand the service framework in place, as well as to understand the investment strategy and investment objective in place with the trust portfolio.

The investment advisor traditionally directs the objective and strategy of the trust and Magnolia will help coordinate the documentation of the direction as part of our services as a fiduciary.

We can coordinate and participate directly in investment reviews if desired by the family; this is tailored to each client team’s established service program. Magnolia prefers to be a “trusted partner” on the advisory team and be a participant in the investment review process with the family; however, we also recognize that the dynamics of communication from one investment program to another can be drastically different.

How does Magnolia charge for its services?

Magnolia Trust’s fees for services as trustee are charged based on a percentage of the trust assets in accordance with our published fee schedule, and the average basis point charge will vary based on the overall value of the trusts being administered and the nature of the trustee duties being undertaken (ie. directed or discretionary). Service offerings and fees assessed for services are reviewed periodically to ensure consistent value is provided to each client.

Magnolia’s fees would begin once Magnolia’s appointment is accepted and we are actively serving as trustee.

In the case of clients drafting new trusts, what involvement do you typically have?

We rely on the client’s attorney to draft a new trust; however, we are also happy to review the document and provide insight and language, depending on Magnolia’s role and assignment.

What’s your process for interpreting ambiguous trust provisions?

Be sure to fully understand the family dynamics and question – Magnolia starts with seeking a full and thorough understanding of the family’s questions around any trust ambiguities.

Research and review internally – Magnolia has a very tenured staff with many decades and breadth of service in the fiduciary industry (JD, CPA, CFP, CFA are designations within the firm). We are accustomed to working with trust instruments and reviewing provisions and state statutes for guidance and analysis internally as first step with any questions around trust provisions. Often, state statutes can provide required clarification around ambiguity within a trust instrument.

Seek Appropriate Legal Guidance – After internal review and analysis, Magnolia may seek appropriate legal guidance – this may mean reviewing the instrument in question with the drafting attorney, family’s current counsel, or counsel for the trust.

Do you prepare trust summaries or flowcharts?

Yes, we are happy to provide illustrations and summaries as needed to support the client team in working with the trust client.

Content on this site is for informational purposes only and is not legal, tax, or investment advice. Please consult your own professional advisors regarding the appropriateness of any trust or planning solution for your specific circumstances.

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