Creating and implementing a well-executed plan
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Passing along your legacy to the next generation can seem like a daunting task. After all, your estate reflects a lifetime of achievement, hard work, and closely held values. So how can you be confident that your wishes will be carried out in the most efficient and effective way possible when you're gone?
The Wells Fargo Bank Estate Services team is here to help. Acting as your personal representative of your estate or trustee of your trust, our specialists have the experience needed to help ensure that your plan is implemented correctly, disputes are resolved, and assets are distributed in a timely manner.
The right executor or trustee can be key
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An estate settlement plan is only as effective as its execution. That’s why it requires an executor or trustee who has the knowledge, time, and commitment to settle your estate or trust to your exact specifications.
In most cases, an executor or trustee is required to:
- Administer and manage the assets of the estate or trust until they are distributed to the heirs or beneficiaries.
- Distribute the assets in an orderly and tax‑efficient manner, and in accordance with the will or trust.
- Handle the administration duties of the estate, including notifying interested parties and government agencies, preparing legal accounting, and filing documents and taxes.
A professional approach to estate settlement
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As one of the leading national providers of estate settlement services, our specialists hold advanced degrees and certifications related to complex estate, tax, and investment planning areas.
When you name Wells Fargo Bank as your executor or trustee, we can manage every aspect of the settlement process:
- Review will and trust provisions with your family
- Estate and trust administration
- Consult with your attorney, accountant, and other outside advisors to provide ongoing support for your beneficiaries
- Keep beneficiaries informed via regular communication and periodic account statements
- Assist with court administration process, including preparation of inventories and accountings
- Coordinate tax return preparation and payment of debts and expenses
- Marshal and safeguard assets, and arrange for valuations and appraisals
- Impartially handle and resolve disputes
Personal Trust Services
Managing your trust when you are no longer able
When you choose Wells Fargo Bank as your corporate trustee, you remain in control of your revocable trust until you become incapacitated or pass away. At that point, our trust specialists pick up where you left off— assuming responsibility for administering your trust and maintaining continuity.
When you become incapacitated, Wells Fargo Bank can step in to help in a variety of different ways, including:
- Facilitating expense and bill payments
- Recordkeeping, accounting, and transaction reporting
- Transacting business as necessary
- Coordinating with internal specialists and outside advisors
When you pass away, we’ll implement the provisions as specified by you in your trust and:
- Inform your beneficiaries
- Inventory your assets and determine fair market value
- Collect your benefits (such as Social Security and insurance)
- Pay final expenses and file tax returns
- Handle accounting and recordkeeping
- Distribute your assets to beneficiaries as directed in your trust
Fiduciary investment management to help preserve and enhance your assets
In addition to the trust administration services above, as your corporate trustee, we can manage the investments in your trust with a comprehensive suite of solutions, including:
- Portfolio management
- Investment risk assessment
- Customized asset management services
- Tax-sensitive strategies
- Real estate—residential, commercial, office, retail, industrial, agricultural (farms and ranches), timber, vacant, and development properties
- Oil, gas, and minerals—royalty, working, leased, or geothermal interests, and mining claims
- Loans, notes, and contracts—secured or unsecured loans, notes, deeds, and contracts
- Closely held (privately owned) business interests
Custom services to implement your trust
Depending on your specific needs and requirements of your trust, we can serve as:
- Sole trustee. If you value the convenience of consolidating all your trust services under one roof, you can count on our skilled trust and investment management specialists for full trustee services.
- Co-trustee. We can also serve as co-trustee with a relative, friend, or advisor of your choice— collaborating with them in executing the provisions of your trust, as well as identifying tasks requiring the assistance of outside professionals.
Why choose Wells Fargo Bank as your corporate trustee?
For more than a century, Wells Fargo Bank has been an industry leader in managing assets held in trust and helping individuals and families build, transition, and make an impact with their wealth. This tradition continues today with our ongoing commitment to providing tailored trust services to meet our clients’ needs for today and their legacy goals for tomorrow.
Through local professionals backed by national resources and specializing in many areas critical to trust and estate administration—including taxation, charitable strategies, and management of specialty assets—you can depend on your trust being managed with a high level of knowledge, integrity, and skill. You can also help mitigate the burden on your loved ones and have the confidence knowing that your most important values and goals reflected in your trust documents will be handled objectively and to the highest standards.