STCL EPCA - John Blackmer - Solus Trust

1. EPCA PRESENTATION
THE INDEPENDENT TRUST
COMPANY EXPERIENCE
OCTOBER 21, 2009

2. AGENDA
• History
• Services Offered
• Fees
• Examples Where Independent Trust
Company Useful
• Conclusion

3. HISTORY
• Pre-Early 1990’s
• Change in Cross-Ownership Legislation
• Bank Owned Trust Company Evolution
• Different Business Focus
• Opportunity for Creation of New, Independent
Trust Companies across Canada
• Process Involved

4. SERVICES PROVIDED
• Executor or administrator of estates
• Trustee of trusts
• Substitute decision maker
• Agent
• N.B. Non-deposit taking and no affiliation with
any other financial institution

5. FEES
• Legislated maximum in B.C.
• May be higher with client consent
• Our fees are usually lower than maximum
• Generally no minimum fees
• No fees in some cases

6. EXAMPLES WHERE INDEPENDENT
TRUST COMPANY USEFUL
• Smaller Estates
– Where charities are the only beneficiaries
– Where long time bank customer
– Where named executor predeceased and no
local next of kin or beneficiaries
– Where intestacy and next of kin cannot agree
– Where most assets held jointly and survivor
unable to act as executor

7. EXAMPLES contin.
• Smaller Trusts
– Trusts with beneficiaries receiving provincial
disability benefits
– Trusts for grandchildren under a will
– Trusts for spendthrift family member
– Insurance trusts
– Trusts for incapable beneficiaries (e.g.
litigation settlements)

8. EXAMPLES contin.
• Larger Estates & Trusts
– Client wants to use independent trust
company so can continue to use other
independent financial service providers
– Complicated matter involving family
dynamics and/or challenging assets and
administration requires additional
personalized service

9. EXAMPLES contin.
• Larger Estates & Trusts contin.
– Client wants to deal with locally based trust
company
– Client only needs alternate trustee (e.g. alter
ego or joint partner trust)
– Client needs administrator pendentelite

10. EXAMPLES contin.
• Substitute Decision Maker
– For Power of Attorney, same situations as
above with executor (e.g. smaller estate and
no local next of kin or friend or larger estate
and want independent firm)
– For Committee, smaller estate or larger
estate and family want to be co-committee
with professional

11. EXAMPLES contin.
• Agent
– Smaller estate and charity wants to honour
wishes of donor who appointed individual at
charity to be executor
– Smaller estate and executor needs
assistance due to fact that they are out of
town, busy, family dynamics or inexperienced
with estate administration

12. THANK YOU!
• Any questions?
• Please contact us:
John Blackmer, LLB, MBA
President & CEO
Suite 1201, The Standard Building
510 West Hastings Street
Vancouver, B.C. V6B 1L8
T: 604.683.5949
F: 604.683.3148