What's This Job All About?
The Senior Estate Settlement Officer is responsible for all aspects of the administration of probate, estate and taxable trusts whereby the bank has been named in a fiduciary capacity. This role will be responsible for implementing decedents' estate plans in all areas where the bank has responsibility. This role will also manage relationships among internal support divisions, outside counsel, co-fiduciaries, beneficiaries and advisors.
What You'll Be Doing
- Act in a fiduciary capacity to perform activities relative to the administration of trusts and estates under the terms of the governing documents.
- Direct collection of income or proceeds in accordance with the governing rules related to income and principal.
- Ensure that fiduciary judgment is followed in collecting, liquidating, distributing, and investing trust assets in accordance with fiduciary investment statutes, terms of the governing documents, and distribution requirement of the beneficiary(ies) of trust or the estate.
- Direct liquidation of assets, payment of debts, payment of administrative expenses, and timely disbursement of funds and property pursuant to the provisions of the governing document.
- Coordinate service providers including; but not limited to, appraisers, realtors, surveyors, estate liquidators, and household help as needed.
- Provide financial accountings to beneficiaries and/or court as required.
- Coordinate and file all tax returns, including but not limited to, returns for the decedent, fiduciary income tax returns for the trust/estate, state and federal income tax returns for closely held businesses and state and federal Estate Tax returns.
- Special tasks including the sale of real estate or family business interest, disposition of qualified plan assets and personal property and coordination of responses to estate tax audits.
- Responsible for proactive "high touch" communication and service to beneficiaries, outside advisors and internal clients.
- When possible, meet with clients and support client centric team with pre-death planning.
- Coordinate estate planning timeline based on beneficiary needs, asset review and pursuant to the provisions of the governing documents.
- Maintain a basis of knowledge in key areas of trust and estate planning, investment management, retirement planning, and tax planning and provide support to others in this area.
- Educate clients, trust beneficiaries and internal team members on the estate settlement process under the terms and requirements of the governing documents.
- Plan and coordinate tasks as required with other professional advisors, such as legal and tax advisors.
- Facilitate effective reporting and communication with beneficiaries, outside advisors and team members.
- In coordination with the Estate Settlement process:
- Oversee all account receipts and disbursements.
- Oversee and monitor account activity including the process of transferring funds, securities, and other assets
- Ensure that appropriate and relative account documentation is on file
- Generate new opportunities across lines of business through direct contact with existing clients, prospects and referral sources.
- Actively participate in sales team meetings and event-driven marketing activities.
- Promote bank trust services.
- Make presentations to groups explaining the function of Greenleaf's Estate Settlement Team.
Support Greenleaf Team Members
- Provide leadership within the estate settlement team and educate other team members regarding estate settlement, trust/estate planning, tax, IRA and other issues.
- Work closely with internal team members to support client needs and to mentor less experienced team members.
- Assist with seminar content development in areas of expertise
- Track client communications in CRM system.
- Provide appropriate reporting to Executive Leadership Team and/or Trust Committee or Finance Department.
- Participate in continuing education opportunities in estate planning, estate settlement, tax, and IRA areas to remain current with new developments in the industry.
- Actively participate in assigned workgroup(s) for various projects.
- All other duties as assigned
What You Need for this Position:
MINIMUM EDUCATION/EXPERIENCE REQUIRED:
- Bachelors Degree or higher and minimum 5 years' experience in estate settlement, estate planning, trust administration, and customer service, or equivalent education and experience.
- CTFA and/or JD preferred.
- Experience with client support/wealth management/complex estate and trust administration.
- Sales experience in a service-related field