Estate Administrator

About the Role

As a global leader in innovative wealth management, asset servicing, asset management, and banking services, Northern Trust guides the world’s most successful individuals, families, corporations, and institutions. This role involves marshaling and administering assets in small to medium-sized probate estates and taxable trusts, serving as the decision point for virtually every estate issue that arises in asset management, tax compliance, tax planning, fundings, distributions, and tax audits.

Responsibilities

• Decide 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.
• Articulate the logic of decisions to all appropriate parties, including internal tax support, co-fiduciaries, and outside counsel.
• Enable preparation of tax returns (estate, gift, generation-skipping, fiduciary, and personal income tax) by locating and marshaling assets, arranging for valuation, quantifying expenses, and securing and reviewing financial records.
• Approve and sign all tax returns, particularly estate tax returns.
• Oversee preparation and filing of all pertinent court documents.
• Advise the investment division on cash requirements of the estate and investment objectives of beneficiaries.
• Coordinate the balancing of account requirements and customer needs during the estate settlement period.
• Ensure appropriate communication of investment decisions between the bank and interested outside parties, while observing all fiduciary requirements and restrictions.
• Establish and maintain strong relationships with beneficiaries, responding to their needs and explaining issues that arise in the estate.
• Educate clients on bank products and services, emerging issues, and regulatory/tax changes.
• Cultivate relationships for expanded business opportunities with the bank (e.g., personal trust, Northern Trust Securities, investment management, private banking).
• Plan, review, and implement all fundings and distributions, coordinating input from co-fiduciaries, beneficiaries, investment division, tax division, and others.
• Review all accounting documentation related to fundings or distributions.
• Oversee special tasks, including sale of real estate or family business interest, disposition of qualified plan assets, coordinating responses to estate tax audits, and facilitating beneficiaries' credit requests.
• Coordinate discussions and reviews of technical tax, investment, and legal issues using outside counsel, in-house legal or tax counsel, and senior administrators.

Requirements

• Knowledge of estate planning and tax laws, trust, fiduciary income, investments, real estate, basic accounting, trust operations, and current issues within the field (e.g., generation-skipping and environmental liability).
• Analytical and organizational skills to translate complex client problems into concrete account situations.
• Negotiating skills to mediate conflicts.
• Minimum of 5 years of experience in estate administration or personal trust, with exposure to legal, tax, investment, and operational elements.

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future.

Benefits

As a Northern Trust partner, you will be part of a flexible and collaborative work culture with a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and the company is committed to an inclusive workplace and community support. Philanthropy is deeply rooted in Northern Trust’s history and culture, with employees actively contributing to their communities.

Northern Trust is committed to working with and providing reasonable accommodations to individuals with health conditions and disabilities.