The Next Chapter 2 2018-06-12T23:04:00-07:00


The Next Chapter explores the ways in which the depth, breadth and expertise of the Whittier Trust team have made a real, lasting difference in the lives and legacies of actual clients. By getting to really know our clients as unique individuals, we go beyond the transactional to develop comprehensive, holistic solutions that ensure that every chapter of life is rich, fulfilling and building on each family’s proud legacy.

An unimaginable diagnosis.
Building a bridge to the future.
What he gave them was priceless.
A forgotten birthday reminded him of what he'd forgotten.

Building a bridge to the future.

Sometimes looking forward requires looking at yourself first.

As the elevator door closed, a smile came across Craig’s face—confident that everything he had worked so hard to build was on solid footing. While he would never admit it, retirement was getting closer—soon he’d be going down that elevator for the last time.

As he left, he thought about how far he had come. From a single apartment building in 1967, he grew the family real estate company while providing a good life for him, his two sisters, and their families.

Things were not always so settled—there was a big fight a few years back. One of Craig’s nephews had wanted a role in the company that he was unqualified to have—Craig found it hard to understand the younger generation’s ideas about the future.

Thinking back, Craig realized he shouldn’t have lost his temper—it was only because he was intent on making them understand that everything he had built could all disappear so easily.

That evening raised an important issue: who would manage the company after Craig? The truth was no one in the family had the experience to manage such a diverse portfolio—even Craig’s trusted staff weren’t appropriate, as their own retirement wasn’t too far off.

It was a difficult problem with an answer that came from an unexpected place. Craig was on the phone with Neil, his Whittier Trust client advisor when he mentioned the disagreement. That one comment led to a series of critical discussions with Whittier Trust about the future of Craig’s company.

Whittier’s 75-year history of purchasing and managing real estate portfolios made it part of their core business, a fact that Craig had always liked. It also reassured him that Whittier was well versed in the dynamics of balancing a family’s needs with being good stewards of intergenerational wealth. It was clear that having a good succession plan in place was going to be critical to the family’s financial future.

Soon thereafter, Craig arranged for a Whittier Trust real estate executive to join his board. Slowly, the Whittier executive began playing both a strategic and day-to-day role in the company. Helping to manage more aspects of the portfolio, Whittier Trust learned the business and how Craig and his family wanted it managed. When Craig was finally ready to step away, there would be an experienced team from Whittier Trust in place to ensure continuity of the business.

Whittier Trust took on another critical role: working with the entire family to ensure all their needs and financial goals were being addressed. While family members didn’t always see eye-to-eye about the future, having Whittier Trust help navigate those conversations had made a significant difference in family harmony.

Craig pulled into his driveway and turned off the car. He could hear voices and laughter coming from inside. The whole family got together for loud and raucous dinners every other month and while the family dinners left him exhausted after a long week, there was no place he’d rather be. He smiled again.

Knowing it won’t always be like this, he also now knew that what came next could be just as good. His kids and their kids could share the same contentment as Craig was feeling now.

We’d love to hear your story.
Call Tim McCarthy at 800.971.3660.

Disclaimer: $10 million marketable securities and/or liquid assets required. Investment and Wealth Management Services are provided by Whittier Trust Company and The Whittier Trust Company of Nevada, Inc. (referred to herein individually and collectively as “WTC”), state-chartered trust companies wholly owned by Whittier Holdings, Inc. (“WHI”), a closely held holding company. This document is provided for informational purposes only and is not intended, and should not be construed, as investment, tax or legal advice. Past performance is no guarantee of future results and no investment or financial planning strategy can guarantee profit or protection against losses. All names, characters, and incidents, except for certain incidental references, are fictitious. Any resemblance to real persons, living or dead, is entirely coincidental.