Business Fiduciary Trust Services
Corporations and institutions who trade domestically and internationally with commodities, bank instruments or agricultural products need reliable partners. Payments of fees and commissions must be handled quite safely and on time domestically and around the world. Legal requirements, international compliance requirements, and regulations must be observed and taken into account carefully. Brooks Harrison—Attorneys At Law, PLLC offers a safe, fast, and cost-effective solutions.
We are experienced in various transactions involving areas such as Real Estate, Banking Transactions, Oil & Gas, Jet Fuel, Gold, Diamond and Commodity Transactions, and many more. All such transactions must be compliant with federal authorities, including the United States Treasury Department and Homeland Security. We assist and work with individuals and companies to facilitate prompt payment of their fees within the guidelines of governmental authorities and regulations both state and federal.
Brooks Harrison—Attorneys At Law, PLLC is a full-service law firm. We are licensed attorneys that assist clients that may have funds held in trust for future acts or transfers. Through Brooks Harrison – Attorneys at Law, PLLC, our clients will obtain a knowledgeable and trustworthy law firm to hold such funds or precious assets, who they know will perform as instructed when instructed by our client to do so. As licensed professionals and officers of the court, we are held to higher ethical standards, thereby making us one of the best candidates to provide fiduciary or paymaster services to you. We possess trust accounts allowing our clients to safely secure funds in trust until you, our client, instructs us to properly and legally disburse said funds or assets. If you are in need of a licensed professional to hold funds for transactions or distribute funds to a pool of entities, our company will provide such services.
Our services are usually for any individual or entity looking to securely transfer funds, or it can be when goods/commodities must be shipped and the buyer does not wish to transfer funds directly until the goods arrive. We have clients seeking to have funds disbursed to one or more individuals using a trusted fiduciary for the disbursement. For all of these purposes and many more, we handle transactions on a national and international basis for our clients.
Fiduciary Paymaster Attorney
We act as a trusted, arms-length, neutral third party that facilitates the payment of large sums of money by receiving funds from any transaction between two or more separate individuals or entities.
Brooks Harrison—Attorneys At Law, PLLC is a dedicated fiduciary and will act as a trusted, arms-length, neutral third party that facilitates the payment of large sums of money by receiving funds from any transaction between two or more separate individuals or entities. The fiduciary holds the funds in trust and disburses the funds, as directed, to all principals and associates in a transaction. This procedure protects all parties to the transaction.
The use of a third-party fiduciary can be one of the most effective means for intermediaries to insure they smoothly and securely receive the fees, compensation, or commissions that have been contractually agreed upon by the parties. The fiduciary drafts an agreement an IOLTA Attorney Trust Account and disburses funds in accordance with the agreement. The fiduciary reconciles the trust account.
In ensuring that Intermediaries smoothly and securely receive the fees, compensation, or commissions that have been contractually agreed upon by the parties. The fiduciary is not party to the transaction and does not know the exact time that the transaction will close. Part of the fiduciary’s duty is to ensure that the payment has been transferred into an attorney IOLTA account and then to disburse the funds in accordance with the parties’ contractually binding directives. Generally, all parties seeking to engage Brooks Harrison—Attorneys At Law, PLLC as their fiduciary and/or trust provider, must provide the following information:
- A copy of valid driver’s license and/or passport;
- U.S. citizens and U.S. resident aliens: Complete IRS form W-9;
- Copy of all transactional documents, including payment agreement;
- Recorded report of pending transactions in which Brooks Harrison—Attorneys At Law, PLLC are involved
Note: Brooks Harrison—Attorneys At Law, PLLC will only make payments and disbursements in the form of wire transfers or SWIFTs. We will not render payments in the form of cash, money orders, or bank checks. Fiduciary dispersals may be made to single or multiple accounts, both domestically and internationally.
The fiduciary does not withhold taxes. The individual or company is solely responsible for paying any taxes due. Brooks Harrison—Attorneys At Law, PLLC does not provide tax advice.
The fiduciary can pay several people out of one party’s commission, as long as all the details and banking information for each payee are clearly delineated in the written agreements.
All transactions are subject to our major banks’ approval and verification of the origin of funds. Our clients are advised to provide our office all supporting documentation and identification in advance, to ensure full compliance with the “Know Your Client” and “Know Your Transaction” policies.
Brooks Harrison—Attorneys At Law, PLLC withhold as compensation between .0025% to 3% as agreed by contract from each transaction. A minimum fee of $1,500.00 USD is applied to all transactions as a setup fee. We shall, if necessary, withhold all banking and other fees and costs associated with incoming and outgoing transfers. If the fiduciary is required to render additional services, the fiduciary shall retain or receive reasonable compensation for his services. Any other legal matters outside the scope of the attorney-client agreement shall be evidenced by a separate and independent attorney-client contract.
Brooks Harrison—Attorneys At Law, PLLC will require documentation from all parties who may be interested in employing our fiduciary services, including a copy of the underlying transactional documents, including but not limited to the fee agreement.