By Ryan Yuhnke
We at Court Investment Services often work with attorneys to manage probate cases for clients who have been appointed to act in a fiduciary role (executor, conservator, guardian, trustee, etc.) but can’t qualify for the bond required for the role. In these cases, clients are required to enter into an agreement that falls under special circumstances or requires additional restrictions.
Though we are well-versed in managing cases with special circumstances and restrictions, we want our clients to know that we do much more than that. In this article, we’ll explore the types of accounts we handle and why CIS is the right choice for all your probate needs.
Types of Accounts
As an attorney or professional fiduciary, your caseload is always unique. No two clients and no two situations are exactly alike. CIS is a one-stop shop no matter what type of probate account you’re handling. We can help you navigate:
- Estate accounts
- Conservatorships
- Guardianships
- Personal accounts (individual, joint, etc.)
- Retirement accounts (401(k)s, IRA, Roth, inherited retirement accounts)
- Variety of trusts (special-needs trusts, family trusts, court-ordered trusts, etc.)
Benefits of Working With CIS
Our service offerings cover a wide variety of account types, but no matter your situation, we have three unique benefits that help us stand out from our competitors.
Potential for Growth
As an investment advisory firm, CIS is well-equipped to handle probate accounts that include investment assets and securities. When dealing with cash, you could just go to a bank (which we believe we are still more competitive than—we’ll touch on that topic later). But if the account involves securities, a bank will not be able to manage the investments. This can be an issue for large accounts with long time horizons or for clients who want to offset inflation and estate expenses. With CIS, you will always have the potential for growth through our comprehensive investment process. Clients can invest at their own pace, according to their specific time horizon and liquidity needs.
Imagine your client had a large cash position and wanted to keep pace with inflation through their estate account held at a local bank. The savings options offered by banks can’t provide a meaningful interest rate without tying up the money. They will put your client in a money market account with an interest rate below 1%, or in a certificate of deposit where the money can’t be accessed for at least a year. Neither option is good if your goal is to keep up with today’s historically high inflation rate.
At CIS, we can leverage a wide variety of investments to meet your clients’ needs. Whether it’s getting exposure to the stock market in a safe and data-driven method for a higher potential of growth, or for the ultra-conservative client looking for a portfolio that doesn’t expose them to the risk and volatility of the stock market, while also maintaining a high degree of liquidity, this is where we believe our cash management strategy makes us more competitive than your local bank. We can utilize U.S. Treasury Bills, which offer comparable interest rates to those of CDs but without the one-year commitment or early withdrawal penalty. Instead, T-bills become liquid in just one business day. We actively roll the T-bills to ensure you are maximizing the highest interest-rate return possible, a service your local bank cannot provide. The income from T-bills is also only taxed on the federal level and exempt at the state or local level.
Not to mention the fact that we are continuously monitoring and updating the account as needed to stay in line with your clients’ goals. If they want to slowly ramp up their investments or move to a more liquid position, we can do that. Clients can always invest at their own pace.
Dedicated Service Representative
In addition to the potential for growth, our clients also get a dedicated service representative. We offer the administrative support you need with personalized service and an ongoing relationship with our team. Utilizing a bank may be familiar and your go-to choice for estate accounts, but they don’t provide the back-office support to make the relationship worth it. With a bank, you will still have to keep track of all transactions in order to report back to the court; but at CIS, we compile this information for you.
We also develop an ongoing relationship with both you (the attorney) and your client so that either one of you can make administrative requests. If you as the attorney aren’t listed on the client’s bank account, you will not be able to request statements, transaction reports, or other administrative information directly from the bank. The client will have to do everything in terms of administrative support, which can be both time-consuming and difficult. With our white-glove service model, the attorneys can communicate with us directly for any admin support they may need. This helps to streamline the probate process, cutting down on unnecessary hassle and expense.
Consolidation
As an attorney, your time is precious. You probably don’t want to manage several different vendors across your various probate cases if you don’t have to. That’s where CIS comes in. Since we can handle everything from straightforward probate cases to complex conservatorships, guardianships, and special needs trusts, you can rest easy knowing that you won’t have your cases scattered across several different banks, advisors, and custodians.
We can also set up check-writing privileges on the account to make things easier for both you and your client. We can simplify your process by providing valuable services and support all under one roof.
Get Started Today
If you’re an attorney or professional fiduciary working with estate accounts, guardianships, conservatorships, or probate cases, we are here for you. To learn more about how CIS can help you manage your clients’ probate assets, schedule an appointment by contacting us at (800) 880-2760 or Contact@CourtInvestmentServices.com.
About Ryan
Ryan Yuhnke is founder and Principal at Court Investment Services, an independent, fee-based investment firm that serves attorneys and fiduciaries as they manage estate-held assets. With two decades of experience, Ryan’s proactive, relationship-based process saves his clients time and money while putting them first in everything. He provides services and support to help attorneys and professional partners oversee and manage special-needs trusts, estates, conservatorships, guardianships, and other court accounts, including IRAs, 401(k)s, and all manner of retirement accounts that also fall under his clients’ management. Ryan is known for his commitment to excellence and transparency and his deep knowledge of probate laws, court compliance, and strategies to keep assets safe while abiding by all court and probate code directives. Ryan’s goal is to make his clients’ lives easier, providing investment support and education along the way.
Ryan has a bachelor’s degree in economics from the University of California, Irvine, and built his career working in banks, national investment firms, and registered investment advisory firms (RIAs.) Prior to starting CIS, he earned the title of First Vice President, and Portfolio Management Director while employed at Morgan Stanley in Newport Beach, CA. When he’s not working, Ryan can be found traveling and enjoying time with family and friends. This might include golf in the warmer months and snowboarding in the cooler months. To learn more about Ryan, connect with him on LinkedIn.
