Estate Administrator

Phoenix, Arizona, United States
01 Jul 2022
26 Jul 2022
Contract type
Full time
Experience level
Qualified accountant

Administers basic probate estates and taxable trusts which require filing federal estate tax returns. Implements decedents'' estate plans in all areaswhere the bank has responsibility. Manages relationships among internal support divisions, outside counsel, co-fiduciaries, beneficiaries, and advisors.

  1. Marshals and administers assets in small to medium-sized probate estates and taxable trusts.
  2. Decides all substantive questions arising within the estate, including tax elections, use of tax reserves, disposition, valuation and collection of assets, raising of cash, resolution of liabilities, audits, and litigation.
  3. Functions as the decision point for virtually every estate issue that arises in asset management, tax compliance, tax planning, fundings, distributions, and tax audits. Articulates the logic of these decisions to all appropriate parties.
  4. Works with internal tax support, co-fiduciaries, and outside counsel to consider all tax elections and determine the most appropriate tax reporting.
  5. Enables preparation of tax returns (estate, gift, generation-skipping, fiduciary, and personal income tax) through locating and marshaling assets, arranging for valuation, quantifying expenses, and securing and reviewing financial records.
  6. Approves all tax returns and signs estate tax returns. Oversees preparation and filing of all pertinent court documents.
  7. Advises investment division of all pertinent circumstances related to cash requirements of estate and investment objectives of beneficiaries.
  8. Coordinates the balancing of account requirements and customer needs during the estate settlement period. Ensures that appropriate communication of investment decisions occurs between the bank and interested outside parties.
  9. Ensures that all fiduciary requirements and restrictions pertaining to investments are observed during the settlement process.
  10. Establishes and maintains strong relationship with beneficiaries responding to their needs and explaining issues that arise in the estate. Educates clients on bank products and services, emergingissues, and regulatory/tax changes.
  11. Cultivates relationships for expanded business opportunities with the bank (personal trust, Northern Trust Securities, investment management, private banking, etc.).
  12. Plans, reviews, and implements all fundings and distributions including coordinating the input of co-fiduciaries, beneficiaries, investment division, tax division, and others. Reviews all accounting documentation pursuant to fundings or distributions.
  13. Oversees special tasks, including sale of real estate or family business interest, disposition of qualified plan assets, coordinating response to estate tax audit, and facilitating beneficiaries'' credit requests.
  14. Coordinates discussion and review of technical tax, investment, and legal issues using outside counsel, in-house legal or tax counsel, and senior administrators as resources in reaching a decision.
Minimum 5 years experience in estate administration or personal trust, with exposure to legal, tax, investment, and operational elements. Knowledge of estate planning and tax laws, trust, fiduciary income, investments, real estate, basic accounting, trust operations, and current issues within the field such as generation-skipping and environmental liability usually acquired through formal education in law or related field and work experience is required to implement estate plans. Analytical and organizational skills are required to translate complex client problems into concrete account situations when processes are not established. Negotiating skills are required to mediate conflict.

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