The evolutionary path of a beneficiary

Richard Llewellyn is senior vice president and manager of client administration for Pasadena-based Whittier Trust Company.

Senior vice president at Whittier Trust Company Richard Llewellyn offers a unique perspective on the three roles a beneficiary plays over the course of his life in this month’s Estate Planning. Once a beneficiary becomes entitled to distributions, an evolutionary process is set in motion and often follows a well-established pattern consistent with human nature, Llewellyn writes in the article “Anticipate and Smooth the Evolutionary Path of a Beneficiary.”

He makes the case that awareness of this process can help a settlor design a trust to minimize potentially adverse effects of the evolutionary process.

“When settlors are working with their attorneys to establish a trust, they usually focus on the trust terms, trustee powers, and distribution provisions,” Llewellyn writes. “All of this is done with the goal of implementing the settlor’s wishes for the beneficiary. Often overlooked, however, is the fact that the existence of the trust itself is likely to have an impact on the beneficiary that will last for many years.”

Whittier Trust Company is an independent investment and wealth management firm with more than $8 billion under advisement, serving more than 270 families and 30 foundations throughout the U.S. One of California’s oldest wealth management companies, the firm has helped families manage, grow and transfer wealth intergenerationally for seven generations.

September 29th, 2011|Categories: Client News|Tags: , , , |

Whittier Trust's chief investment strategist on how to protect your assets in the current economy

Whittier Trust Company’s Stephen Smith, vice president and chief investment strategist, spoke with Maria Bartiromo of CNBC’s “Closing Bell” recently about what the current triple-digit stock market swings mean for the U.S. economy.

“Make sure your cash is not in a fund that has exposure to European banks,” Smith said on the program. “Put your money in a mini fund or treasury fund. And most of all, be patient about going in and picking bargains.”

Whittier Trust Company is an independent investment and wealth management firm with more than $8 billion under advisement, serving more than 270 families and 30 foundations throughout the U.S.

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August 15th, 2011|Categories: Client News|Tags: , , , , , |

San Marino's Pegine Grayson brings fundraising expertise to Whittier Trust Company

Pegine Grayson is a vice president in Whittier Trust Company's Philanthropic Services division.

Pegine Grayson, a well-known San Marino, Calif., resident, was recently profiled in the San Marino Tribune for both her ongoing philanthropy efforts and for joining Whittier Trust Company. Now that her two children are older, Pegine is bringing her fundraising and philanthropic expertise to Whittier Trust, a wealth management firm based in Pasadena that serves more than 270 families and 30 foundations.

As a vice president in the firm’s Philanthropic Services division, one of Pegine’s goals is to help clients instill in their children a healthy respect for money through foundation and charitable endeavor advisement.

“Family foundations bring families closer together to experience the joy of giving and learn about financial management,” Pegine told the San Marino Tribune.

Prior to joining Whittier Trust, Pegine served as a public interest lawyer and nonprofit executive.

Whittier Trust chief investment strategist: Why financial advisers are keeping calm about the debt deal

Stephen Smith, vice president and chief investment strategist for Whittier Trust Company

With less than a week remaining for politicians to reach a deal to raise the debt ceiling, the stock market has remained relatively calm. Reuters Money reached out to financial experts to determine why these advisers are urging their clients to “stay the course.”

An overwhelming majority expressed faith that lawmakers would reach a deal by the August 2 deadline, and many stated that markets would adjust regardless. According to Stephen A. Smith, vice president and chief investment strategist of Pasadena-based Whittier Trust Company, it’s about more than just the debt ceiling.

“We are more defensive in recent months than we had been previously, but that is primarily because of the debt problems in Europe, not the U.S.,” said Smith in the interview with Reuters. “We have advised clients to maintain their normal strategic exposures to the U.S. stock market … and have moved client cash out of money market funds with exposure to European banks.”

July 28th, 2011|Categories: Client News|Tags: , , , , , |