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U.S. Trust Introduces Family Wealth Services: Wealth Planning For The Modern American Family

Stocks in this article: BAC

U.S. Trust today introduced Family Wealth Services, a comprehensive approach to meeting the specialized needs of high net worth families and the increasingly complex issues that parents, children and extended family members now face. Family Wealth Services aggregates a wide range of investment, banking, wealth transfer and legacy planning capabilities within U.S. Trust and provides customized strategies that incorporate generational differences, family diversity, emerging risks to financial security and overall family goals and values.

“Today’s families are complex with emotional, lifestyle and financial issues that are often closely intertwined,” said Keith Banks, president of U.S. Trust. “We recognize that the individual financial and planning goals of our clients are part of a bigger, multi-dimensional family dynamic. Family Wealth Services is a reflection of the increased interest we’re seeing by clients taking control of their individual financial security with a more disciplined, proactive, longer-term view of family relationships and responsibilities.”

The oldest trust company in the United States and advisor to generations of wealthy American families for over 200 years, U.S. Trust developed Family Wealth Services in response to the growing need for comprehensive, multi-generational wealth planning. Customized services, tools and solutions within Family Wealth Services are designed to help U.S. Trust clients address a range of needs, including:

  • Providing financial education to children and managing wealth across multiple generations.
  • Addressing the specialized needs of elderly family members.
  • Developing customized wealth plans that address the distinct needs of women – single, married, widowed and divorced.
  • Planning for the unique needs of lesbian, gay, bisexual and transgendered domestic partners.
  • Creating a multi-generational legacy.
  • Supporting philanthropic interests.
  • Providing administrative support for family members and other individuals serving as a trustee or executor.

“The family is the biggest and most rewarding investment most people make in their lives,” said Chris Heilmann, U.S. Trust’s chief fiduciary executive. “That’s why we think it’s important to help people build and protect the family as an asset as they build and protect their wealth.”

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