Echo and Teton Management/Fiduciary Services

Echo and Teton Management/Fiduciary Services provides fiduciary services for those clients of Worthington Group who purchased trusts to protect and preserve their a$$ets and who may prefer to have Echo and Teton Management/Fiduciary Services provide these services. Being a fiduciary is a responsible position of which Echo and Teton Management/Fiduciary Services takes very seriously.

Definition of the word 'fiduciary' is defined as follows according to Title 26 USC Section 7701(a)(6) as;

"(6) Fiduciary- The term 'fiduciary' means guardian, trustee, executor, administrator, receiver, conservator, or any person acting in any fiduciary capacity for any person"

and from Webster's New WORLD Dictionary 'fiduciary' is defined as;

"Designation of a person who holds something in trust for another; held in trust; of a trustee or trusteeship; guardian; valuable because of public confidence and support; to trust".

Fiduciary responsibilities include but are not limited to the following:

1) The most important fiduciary function is to protect for those beneficiaries named in the trust, those a$$ets which were conveyed for the benefit of the named beneficiaries.

2) To make certain that the 'corpus' the a$$ets conveyed are not depleted so as to leave the beneficiaries without benefit of same.

3) To be cognizant of the management of the trust/s so that unfortunate happenings in management do not invalidate the trust contract.

4) To make sure that tax returns required are filed.

5) To make sure that those persons appointed as manager/s, secretary/s, officers, comply with all of the terms of the trust contract.

6) To construct proper 'minutes' for those requests of items not covered by the trust contract, but required as an addendum or amendment to same.

7) To always be available for communication between manager/s, secretary/s, officers, and beneficiaries related to each trust, and to also be available to answer or respond to oral or written inquiries of persons outside of those named in the trust documents.

This is a very small sampling of what a responsible fiduciary means.

Echo and Teton Management/Fiduciary Services