Specialized Assets
Clients accumulate a variety of assets during their lifetime. As a professional trustee, we are equipped to handle all types of non-marketable assets from commercial real estate to private coin collections.
Fiduciary Real Estate Services
Real estate is often the most significant―and the most complex―asset in your trust. Whether you own property as your primary residence or you're holding commercial properties as an income-generating investment, the regulations and taxes that govern such assets are quite elaborate and change year to year, state by state. For First American Trust®, real estate is our core strength that dates back to 1889, and we have considerable resources throughout our First American family of companies. We've built a respected reputation for generations in the real estate community.
Working with you and the other assets in your trust, we assess the performance of each parcel of real property, as well as your or your beneficiaries' needs, in order to develop a plan to:
- Recommend the sale, exchange, or diversification of the real property assets, if needed.
- Manage risk with a review of insurance options.
- Professionally manage the property with our experienced in-house real estate team including but not limited to: managing day to day operations; perform periodic inspections; supervise vendors; and process all income and payables.
- Manage and supervise property managers and leasing agents.
- Work with your legal and tax professionals to manage income and protect the real property asset.
Additional services for commercial properties include:
- Property sales and leasing
- Financial analyses with feasibility studies and environmental surveys
- Income and expense oversight, including mortgage and tax payments
- Property management of repairs and improvements
Fiduciary Business Services
A proper business succession plan ensures professional stewardship and oversight of your private business for the benefit of your heirs. First American Trust supports your heirs by providing additional expertise to transition your closely held business interest according to your plan. When First American Trust is named as the independent trustee of the business ownership interest, we can typically reduce conflict between your heirs and your designated successor manager/successor in interest.
Our Fiduciary Business Services group provides objective and independent management of closely held business interests and ongoing oversight of its underlying assets. This allows the business to continue to operate for an extended time or to properly prepare for a necessary sale or dissolution. Business interests appropriate for this service may include, but are not limited to: family limited partnerships; limited liability companies; S Corporations; C Corporations; and investment holding corporations. Typically, underlying assets include real estate holdings such as, income producing properties, triple net leases and mortgage loans secured by real estate.
Land Trusts
Land trusts are designed to hold title to real property in the trustee’s name for the purpose of maintaining anonymity of the client and keeping the beneficiary’s name off the recorded deed. We are able to hold title in all 50 states and some U.S. territories under our powers as a Federal Savings Bank. We rely on the unmatched capabilities of our affiliate companies and our experienced real estate trust officers to ensure all real estate transactions are processed efficiently without disclosure. We ensure that all client information is held in strictest confidence.
Benefits of Land Trusts
- Privacy - The true owner is anonymous because there is no public record. Land trusts are a vehicle for maintaining the privacy and confidentiality of high profile beneficiaries
- Secrecy of Purchase and Sales Price - Property and large tracts of land can be acquired and sold while keeping plans private and avoiding price escalation
- Ease of Management - First American handles all documents for recording at the direction of the client
- Safety and Security of Corporate Trustee - First American Trust, provides safety, security and reliability as a corporate trustee with oversight by federal regulators, and the backing of First American Financial Corporation
Types of Land Trust Accounts
Standard Land Trust
Acquisition Land Trust
County Lien Contract/ Holding Agreement
Developer Acquisition Land Trust
Business Escrows
During complex transitions, such as mergers, acquisitions, or legal settlements, First American Trust acts as a professional, experienced, unbiased third-party to ensure the anticipated terms and agreements among potentially adverse parties are settled. We hold and disperse assets as directed per the terms of such agreements.
Mineral, Oil & Gas
First American Trust has decades of experience managing our client’s passive or productive natural resource interests. We provide fiduciary oversight to maintain your holdings, collect income, or liquidate to optimize outcomes.
Unique Assets
Many of our clients have developed passionate hobbies. These often lead to the accumulation of valuable objects such as collectible cars, boats, fine art, jewelry and precious coins. In your estate plan you may have specific designs and requests for these one-of-a-kind treasures. As a independent corporate trustee, we would ensure your wishes are carried out. In case these unique assets are to be liquidated, we work with expert appraisers and sales organizations to maximize realized value.
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