Trust Administrator- 3633588

Job Title: Trust Administrator

Location: Cleveland OH 44114

Salary/Payrate: $85K-$95K annually and AWESOME benefits!!!

Work Environment: Onsite

Term: Permanent / Fulltime

Bachelor’s degree required: No

Referral Fee: AMS will pay $500 should the person you refer gets
hired

JOB DESCRIPTION

Trust Administrator:

* Coordinate with the attorney on preparation of trust summary
for file.
* Confirm copy of trust instrument is in physical and digital
file and coordinate with attorney’s assistant as needed to ensure
documents are in file as required.
* Prepare correspondence and communicate directly with the
client, trust beneficiaries, financial institutions, and other
parties regarding trust matters as authorized by attorney.
* Request all documentation needed from client and financial
institutions regarding asset information and potential
liabilities.
* Note location of Tangible Personal Property stored in house in
Centerbase and assist with ensuring Tangible Personal Property is
(1) stored appropriately, and (2) distributed in accordance with
estate plan and consistent with firm policy.
* Complete Form 56, any necessary requests for income, gift tax,
or business returns or transcripts as instructed by attorney,
prepare Form SS-4 and tax authorizations to obtain tax ID,
prepare Form 2848, and any other requests for tax information.
* Prepare required trust notices to beneficiaries.
* Prepare Trustee acceptance and resignation documents.
* Prepare Certifications of Trust.
* Prepare asset and liabilities spreadsheet for tracking of the
same.
* Start trust accounting in GEMS or FAS. (will be trained)
* Run EVP reports and other date of death valuations as needed
for non-probate assets. Communicate appropriate basis information
to appropriate parties in accordance with attorney instruction
and ensure appropriate step-up in cost basis occurs.
* Assist in locating and making contact with qualified appraisers
for valuations.
* Confirm insurance coverage for trust assets.
* Prepare documents for transfers of real property to and from
trust as instructed by attorney.
* Calendar all deadlines and reminders in conjunction with Group
Probate Paralegal and Income Tax Preparer, if applicable. Also
make sure income tax deadlines are on the Master Tax List.
* Provide updates to Group members throughout the trust’s
administration to allow necessary information sharing among
assigned Group.
* Meet periodically with attorney(s), Probate Paralegal, and
Income Tax Preparer to ensure tasks are being completed in a
timely manner and to assist as needed to ensure deadlines are
met.
* Collect and maintain all information for preparation of trust
accountings, annual Trustee’s report, and income tax returns.
* Request all backup documentation relating to trust property for
estate tax return or gift tax returns, if applicable, and provide
to internal and external preparer in a timely manner.
* Work with financial institutions, government agencies, and
insurance companies to collect necessary asset information and
resolve any related issues.
* Assist client in contacting financial institutions or other
entities for necessary change of ownership forms and
documentation to ensure transfer of assets to beneficiaries.
* In conjunction with the Probate Paralegal, Income Tax Preparer,
and Tax Assistant, prepare trust accountings and Forms 1041.
* Prepare distribution schedule for divisions of trust assets and
assist fiduciary in distributing assets as needed. Preparation of
RRI and settlement agreements should be prepared by an attorney.
* Maintain accounting records
* Assist Trustee with preparation of the following:
* Distributions to beneficiaries and on their behalf (bill
payment, payment of real property taxes, etc.)
* Estimated income tax payments (in coordination with Income Tax
Preparer and attorney)
* Payment of Trustee fees
* Investment review meetings
* Meetings with beneficiaries