Masterson Receives Registration by US Patent and Trademark Office
Serving as a Trustee of a Trust can be a daunting process for even the most well-prepared person. The personal liability for a Trustee can be overwhelming, if the Trustee is even aware of it. Steve Masterson, of Coeur d’Alene, Idaho, has developed and implemented a review process that can be used by a Trustee, or a Beneficiary of a Trust, to evaluate what kind of job the Trustee is doing managing the Trust. Masterson calls the review process Trustee Scorecard®.
On Tuesday, October 30, 2012, the US Patent and Trademark Office awarded trademark registration of the term Trustee Scorecard® to S&K Ventures, LLC, an Idaho limited liability company controlled by Masterson.
A Trustee’s duties are described in trust documents and in applicable State laws. These duties carry significant personal obligations and liability. Fiduciary litigation is very costly and fiduciary duties can be unexpectedly broad. Trustee Scorecard® assists a Trustee in assessing the extent to which he or she is meeting the requirements of the relevant trust documents and applicable State and federal laws. After a thorough review of relevant documents and other materials, a Trustee Scorecard® report is delivered detailing strengths and weaknesses, and where applicable, recommendations for improvement.
Trustee Scorecard® is appropriate for Trustees of irrevocable trusts and revocable trusts where the Trustee is a different person or entity than the current or future beneficiaries. Beneficiaries, you can take advantage of Trustee Scorecard® to assess the job your Trustee is doing for you. Trustee Scorecard® can be used to evaluate individual, professional, or corporate Trustees.
Steve Masterson has 29 years experience managing a wide variety of trust and estate assets, designing estate plans for high net worth clients, and creating custom financial solutions for unique family circumstances. He developed his expertise while working for Gardere & Wynne, LLP, Dallas, Texas, Wells Fargo Bank, N.A, and two independent trust companies. He holds a B.A. from Dallas Baptist University and completed the Texas Bankers Association School of Trust Banking at Southern Methodist University.