Trust Officer - Private Bank

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Description:
JPMorgan Private Bank is a global wealth management leader that delivers the highest quality advice, service, capabilities and products to high net worth individuals and families in 36 countries around the world.  The Private Bank addresses every facet of wealth management from investment management and brokerage to tax and estate planning, credit, capital raising, and specialty wealth advisory services.  The bank prides itself on delivering creative, customized solutions to clients in a way that is tailored to their individual needs.
  Trust Officers work with the Senior Trust Officers in the management of fiduciary accounts.  Under the supervision of a Senior Trust Officer, the Trust Officer manages trust and estate accounts in accordance with the Bank's fiduciary responsibilities as trustee and executor.   The job duties include the following:    Interpret the governing instrument and applicable law in order to establish account records, including payment and fee schedules.   Write to beneficiaries and co-fiduciaries to outline administrative procedures.
 Respond to client issues, anticipate client needs, and prepare for and participate in client meetings with Trust Manager.
Work with the Tax Department and counsel on income, gift, estate, and generation skipping taxes for the trust/estate and its beneficiaries.
Respond to requests from beneficiaries for discretionary distributions.  Submit memoranda to Trust and Investment Committee for approval.  Confer with co-trustee (if any) to obtain his/her approval.  Communicate decision to client and follow-up with the request as necessary.
Oversee work performed by various Private Banking operational groups to ensure the smooth operation of the trust and estate accounts.
Communicate with portfolio managers regarding investment objectives and liquidity needs.
Handle departmental projects relating to accounts and special assets.  Participate on various committees as needed.  
Responsibilities in the administration of estates: - Identify, collect and secure decedent's tangible and intangible assets.  Assist in coordinating appraisals of personal property with auction houses and estate liquidators.  Arrange for estate tax valuations.  Notify beneficiaries of provisions of Will, determine beneficiaries' preferences with regard to the form of distributions, satisfy specific bequests and establish testamentary trusts.  Organize estate records and valuations for use by Counsel in preparation of death tax returns.  Review death tax returns upon completion.  Gather information requested by I.R.S. for an estate tax audit and attend meeting with auditor(s).  Coordinate with Counsel in regard to preparation of an accounting, Receipt and Releases or court filings for judicial settlement; Coordinate final distributions and closure of account.
Responsibilities in the settlement of trusts:  Coordinate flow of work relative to terminating accounts with internal departments.  Write to remaindermen, executors and trust counsel outlining trust dispositive provisions and termination procedures for distribution of assets.  Determine type of distribution and method of accounting with counsel and remaindermen.  Review or prepare Letter Agreements/Receipt and Release Agreements and/or court filings and oversee the preparation and review of accountings.  Coordinate final distributions and closure of account.

Apply by eMail:do_not_reply@invalidemail.com

Job Created: Thu Oct 15 2009 06:24:36 AM
Last Modified: Fri Nov 20 2009 06:39:47 AM