Annoucement :: July 26, 2011
A New Publication from the Heirs® Organization!

Considering a Change in Trustee or Creating an Irrevocable Trust Account?

If the future was predictable, perhaps there would not be a need for trust creators to provide their beneficiaries with means to insure the performance of their trusts as, for example, by providing a practical mechanism for changing trustees should the need arise.  Yet experience suggests a beneficiary’s circumstances can change in ways never anticipated. Fortunately, based on recent advice from competent counsel, omission of a trustee removal clause in new trusts could, under appropriate circumstances, subject today’s drafting attorney to a malpractice action!  Yet what about the dissatisfied beneficiary who discovers that improved administration will require a change of trustee but no removal clause is available?  Would you not agree that if tomorrow’s beneficiaries can anticipate being able to easily change corporate trustees or substitute a corporate for an individual trustee, shouldn’t that privilege be extended to beneficiaries with existing trusts?

The issue has been explored at length in a new Heirs ® publication entitled Portability – The Key to Improved Trust Administration.  Briefly, the article records varied complaints from actual beneficiaries across the country and graphically relates the consequences when trust administrators ignore certain accepted fiducial principles. The viewpoints of industry, consumer, and academic authorities who have acknowledged the need to offer all beneficiaries practical means of changing trustees are also presented. Beneficiaries will find Portability – The Key to Improved Trust Administration particularly helpful in gaining concessions from their trustees. Furthermore, for their part, trust creators are alerted to potential problems which can threaten future beneficiary-trustee relationships.  In sum, portability will not only benefit the individual beneficiary and trust creator but corporate administrators simply by requiring banks to improve administration or risk losing your business! 

Portability – The Key to Improved Trust Administration may be viewed by clicking here. A bound colorfully illustrated postpaid copy may be obtained directly from Heirs® at a cost of $50.  Interested in arranging low cost drop shipping of one or more copies to your state legislators and/or congressmen? Contact Heirs® at (610) 527-6260 or stancedar@comcast.net.

Annoucement :: June 25, 2010
Presentation to FDIC

Heirs® was recently invited to present the beneficiary's point of view at a meeting of bank examiners hosted by FDIC at their offices in Arlington, VA. The presentation appeared to be well received. One audience member noted that while an examiner's powers are limited, they do have the authority to refer 'serious' issues to other regulatory agencies. For a copy of the speakers notes, see FDIC outline. (Requires Adobe Reader!)

Please let us welcome you to HEIRS®, the first group of 'unhappy' beneficiaries in the country dedicated to reforming the administration of trusts/estates. This website will acquaint you with our objectives and strategies. After we have received your completed membership application and dues, we will send along additional materials designed to support your quest for improved trust/estate administration.

Whether you seek better performance at less cost, the removal of your trustee/executor, recovery of past losses or improvement in your negotiating posture with a bank or individual trustee/executor, Heirs® can put resources on the table to help. As a member of our organization, you will receive the Heirs® Personal Trust Handbook and Literature Resources, a listing of useful articles describing your rights as a beneficiary and the responsibilities of fiduciaries. You also will be able to meet and compare notes with other beneficiaries, perhaps even including some whose trusts are administered by your bank. Sometimes we may be able to refer you to a good lawyer if you are contemplating litigation.

Reform in trust administration is possible; with your support, Heirs® intends to lead the way!

To discover the benefits of Heirs® Membership, please click here!

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