Plan for Special Assets

 
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Plan for Special Assets

   
Offering broad-based expertise in the management of nonfinancial assetsOur professionals have wide-ranging expertise in working with families and their advisers to evaluate and manage complex and unique assets.
 
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Real Estate and Agricultural Services
  • Manage accounting and property issues for income producing real estate
  • Assemble necessary documents including deeds, abstracts and insurance policies
  • Determine adequacy of insurance, payment of taxes, bills and assessments

Oil, Gas and Minerals Management

  • Identify mineral assets held in trust and agency accounts
  • Coordinate environmental assessment of working interest properties
  • Collect revenues, pay operating expenses and provide monthly reporting
  • Manage day-to-day operations of the mineral assets similar to a small production company
  • Evaluate and negotiate leases, farmouts, gas purchase contracts and related industry agreements
  • Valuate mineral assets for sales and tax purposes

Specialized Trustee Management

  • Copyrights, patents or royalties
  • Artwork
  • Lifestyle assets such as aircraft and yachts

Family Business Services

  • Operating business services
  • Managing liquidity events
  • Special services
Family Business Services
Navigating the complex needs of managing the family business.
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R. Hugh Magill
Our Expert
R. Hugh Magill
Chief Fiduciary Officer
 
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R. Hugh Magill
R. Hugh Magill
Chief Fiduciary Officer
 
R. Hugh Magill is an Executive Vice President at The Northern Trust Company, Chicago, where he serves as Chief Fiduciary Officer and National Director of Trust Services. In this capacity he is responsible for Northern Trust’s fiduciary and philanthropic services to private clients nationally.

Prior to joining Northern Trust in September, 1989, Hugh practiced law privately in Chicago, and worked in the Trust Department at The First National Bank of Chicago where he served as Assistant to the Chief Investment Officer.

Hugh received a B.A. degree, cum laude, from St. Olaf College in Northfield, Minnesota, and a J.D. degree from the University of Minnesota Law School, where he was named a distinguished alumnus in 2005.

Hugh is a member of the Chicago, Illinois and American Bar Associations, the Chicago Estate Planning Council, and the Christian Legal Society. He is licensed to practice law in Illinois and Minnesota and admitted to practice before the United States Tax Court. He is a faculty member of the American Banker’s Association National Trust School and lectures for the Illinois Institute for Continuing Legal Education, many Bar Associations, and Northern Trust on estate and charitable planning, trust administration, and fiduciary risk management. He serves on the Boards of the Creator Arts Center, the Block Museum of Art, and several foundations. He is a member of the Site Council for the Gaylord Building of the National Trust for Historic Preservation and a Scoutmaster with the Boy Scouts of America. He and his wife reside in Winnetka, Illinois with their three children.

 
 
 
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