Estate Administrator

About Northern Trust As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service. Major Duties Marshals and administers assets in small to medium-sized probate estates and taxable trusts. 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. 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. Works with internal tax support, co-fiduciaries, and outside counsel to consider all tax elections and determine the most appropriate tax reporting. 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. Approves all tax returns and signs estate tax returns. Oversees preparation and filing of all pertinent court documents. Advises investment division of all pertinent circumstances related to cash requirements of estate and investment objectives of beneficiaries. 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. Ensures that all fiduciary requirements and restrictions pertaining to investments are observed during the settlement process. 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, emerging issues, and regulatory/tax changes. Cultivates relationships for expanded business opportunities with the bank (personal trust, Northern Trust Securities, investment management, private banking, etc.). 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. 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. 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. Knowledge 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. Experience Minimum 5 years experience in estate administration or personal trust, with exposure to legal, tax, investment, and operational elements. Work Authorization Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa). Working with Us As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve. Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities. Reasonable Accommodation Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at View email address on click.appcast.io, or alternatively you can discuss your individual requirements with the recruiter you are working with. #J-18808-Ljbffr