How a corporate trustee helped preserve family harmony
Payton was struggling with the responsibilities of being the trustee of her siblings' trusts.
How J.P. Morgan liquidated a cumbersome estate asset
Situation
Manuela was an avid collector of antique currencies and, over the years, amassed significant wealth in various forms of gold. Wanting to keep her wealth close to home, she placed the gold in an underground commercial vault run by a third-party. Upon Manuela’s passing, her estate plan provided that all of the gold be liquidated and placed into a new trust fund for her great-grandchild.
Our Approach
Having appointed J.P. Morgan Private Bank as executor and trustee, Manuela’s J.P. Morgan team engaged a precious metals expert to value the gold. The team then securely transported the various forms of gold in GPS-tracked cases to a safe destination for liquidation.
To avoid flooding the gold market, the team introduced the gold gradually. Upon completing the liquidation, the approximately $90 million from the sale was placed into a new trust for the great-grandchild.
Outcome
Manuela’s family was relieved that the J.P. Morgan Private Bank team had the resources and experience to liquidate and secure the various forms of gold for them. They were also grateful for the team’s management of the sale of Manuela’s home and the distribution of her personal property. This support eased the burdens that had been troubling Manuela’s family.
Important Information
Preserving the value of a unique asset within a trust
John needed help managing his father's trust, which included a catalog of songs.
