U.S. estate services
The decisions you make about your assets now can have a profound effect on your family later—potentially for generations. That’s why you have carefully weighed your options and thought hard about the potential outcomes. That’s also why, when J.P. Morgan serves as your executor, we take great care to ease the burden on your loved ones. We help ensure that your wealth ends up right where you want it, in the way you want it.
Our approach to estate services
Nearly everyone is surprised by how arduous settling an estate can be and what it takes to handle all the assets properly. It’s not a job you want to leave to loved ones burdened by grief. It’s best left to professionals with the experience, knowledge and resources to support your family.
In whatever way you and your family choose to work with us, we can take care of all or any part of your estate needs as executor. Here’s how:
There are three capacities through which we can serve as steward of your wealth, depending on the level of oversight you seek.
- As sole executor: We take complete responsibility for settlement, administration and estate disposition
- As co-executor: We share responsibility for oversight and administration with other individuals
- As an agent for the executor: An executor hires us to perform administrative duties, but retains the decision-making and ultimate responsibility for the estate
In whatever capacity J.P. Morgan steps in to help, we will handle all aspects of the estate administration process, which can be broken down into three buckets.
Preparation
Our team analyzes your will and the nature of your assets. We then confer with family members, attorneys and other interested persons about your will’s provisions. Once authorized to act, we arrange for notice to creditors, beneficiaries, bankers, brokers and other investment advisors, and begin opening the estate account.
Distribution
As the estate administration progresses, we will be asked at different times to make distributions, including personal property transfers, partial distributions and final distributions. First, we may transfer personal property and fulfill specific bequests to beneficiaries. Once tax returns have been filed and any taxes due paid, we will make partial distributions. Finally, once all returns have been accepted, we will prepare a final accounting of the estate assets and make final distributions.
Administration
Our team will compile and analyze all of your assets. We inspect the last three years of financial records, identify debts and pay allowable claims against the estate. We are also responsible for preparing tax returns, including estate, income and inheritance taxes, and we address and resolve IRS audits or controversies.
Benefits of estate services at J.P. Morgan
We’ll be there to make sure your estate is handled properly, your wishes are carried out appropriately, and the benefits to your heirs are maximized. With over 150 years of serving clients, we have in-depth knowledge, as well as experience in handling complex assets.
We administer estates across the country and offer access to the full suite of capabilities as part of a global private bank. Plus, we have a specialization in illiquid assets, so our teams can help manage the day-to-day operations and preserve the long-term value of the non-financial assets in your trust or estate across four broad categories:
- Private businesses
- Real estate
- Mineral assets
- Philanthropy and grants management
Whatever your situation is, we’ll help ensure your wishes are carried out as you intended.
Additional Services
Ready to learn more about U.S. estate services? Find the right approach with a J.P. Morgan team today.
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Contact us to discuss how we can help you experience the full possibility of your wealth.
Please tell us about yourself, and our team will contact you.
