Administers complex, sensitive probate estates and taxable trustscontainingsophisticated estate plans, sensitive family situations, and complex or difficult issuespertaining toinvestment, tax, legal, or other questions. Implements the descendant's estate plan in all areas where the bank hasresponsibility.Manages relationships among internal support divisions, outside counsel, co-fiduciaries, beneficiaries, and advisors.
Marshals and administers assets in complexestates and taxable trusts.
2. Decides all substantive questions arising withinthe estate including tax elections, use of tax reserves,disposition,valuationand collection of assets, raisingof cash, resolution of liabilities, audits, and litigation.
3. Manages accounts which feature sophisticatedestate plans, unusual assets, complicated will ortrust provisions, intricate tax matters, significantinvestment decisions, and sensitive familysituations.
4. Administers unusual assets, such asclosely heldstock, investment concentrations, large or multiplereal estate holdings,unusual, qualifiedplans,deferred compensation agreements, and farms.
5. Enables preparation of tax returns (estate, gift,generation-skipping, fiduciary, and personal incometax) throughlocatingand marshaling assets,arranging for valuation, quantifyingexpenses, andsecuring and reviewing financial records.
6. Works with internal tax support, co-fiduciaries,and outside counsel to consider all tax electionsand determineappropriate taxreporting.
7.Advisesinvestment division of all pertinentcircumstances related to cash requirements of estateand investmentobjectivesof beneficiaries. Helpsdevelop and communicate investment programs,ensuring that all fiduciary requirements are observed.
8. Coordinates thebalancingof account requirementsand customer needs during the estate settlementperiod. Ensures thatappropriate communicationof investment decisions occurs between the bankand interested outside parties.
9. Establishes andmaintainsstrong relationshipswith beneficiaries responding to their needsandobjectives and explaining any issues that arisein the estate. Educates clients on bank productsand services, emerging issues, and regulatory/taxchanges.
10. Cultivates relationships for expanded businessopportunities with the bank (personal trust, NorthernTrust Securities, investment management, privatebanking, etc.).
11. Reviews and implements all fundings anddistributions, reviewing all pertinent accountingdocumentation for assigned accounts. Overseespreparation and filing of all necessary courtdocuments.
12. Oversees special tasks, including sale of realestate or family business interest, disposition ofqualified plan assets, coordinating response toestate tax audits, andfacilitatingbeneficiaries' credit requests.
13. Coordinates response to litigation or initiateslitigation ifappropriate. Coordinates discussionand review of technical tax and legal issues,using outside counsel, in-house legal or taxcounsel, and senior administrators.
14. Serves as a resource for the group, providingtraining and consultation on estate matters.
