Solutions designed to help reduce the burden on your family and trustees
Serving as trustee on a trust can be a daunting role, one that carries significant fiduciary responsibilities including protecting the interests of current and future beneficiaries. The good news is that trustees don't have to manage all of these responsibilities alone.
Bank of America Trust Services has served generations of families, with the knowledge, resources and fiduciary experience to administer trusts and estates with sensitivity and professionalism.
Support for individual trustees
When you appoint someone to serve as a trustee, it’s likely because you have full confidence in their personal integrity. But you’re also asking them to take on significant fiduciary, management and administrative responsibility.
With support from Bank of America Trust Services, you can still honor your family member or friend with the role of trustee but free them from the day-to-day investment management and administrative responsibilities. You and your trustee can rely on Bank of America Trust Services to:
- Provide comprehensive fiduciary investment capabilities and manage trust assets
- Help balance competing interests of beneficiaries
- Make distributions to beneficiaries
- Maintain the records required to report on principal, income and performance
- Prepare and file tax returns
Corporate trustee services
If you are looking for professional fiduciary knowledge and experience and want continuity of oversight for the life of your trust, the Bank of America Trust Services team can serve as co-trustee in partnership with individuals of your choosing — or even serve as the sole trustee.
When you use Bank of America corporate trustee services, your trust will benefit from our expertise in both investment management and trust administration responsibilities. You’ll know that your legacy is being overseen by professionals who are held to the highest fiduciary standard — which means they have a duty to act in the sole interest of you and your beneficiaries.
Estate administration
Our experience, technical expertise and nationwide practice can help settle your estate, from filing estate tax returns and administrative details to managing and distributing your assets according to your wishes.
Connect with a Merrill Private Wealth Advisor.
Trust, fiduciary and investment management services, including assets managed by the Specialty Asset Management team, are provided by Bank of America, N.A., Member FDIC and wholly owned subsidiary of Bank of America Corporation (“BofA Corp.”), and its agents.