Estate Administration Services

Estate Administration

Creating an estate plan is critical to providing for your loved ones and ensuring that your final wishes are fulfilled. Selecting the right executor to carry out these wishes is equally important.

While loved ones and friends may offer certain advantages, they may not have the experience or time to be effective executors. A corporate executor or co-executor could be the most appropriate option.

Bessemer Trust has served as executor or co-executor for generations of clients. Our experts are available to administer your estate so that your final wishes are fulfilled efficiently and with fairness and consideration for all of your beneficiaries.

Estate Administration Overview

Large Estates, Complex Decisions

The administration of an estate is time intensive and often entails complicated investment decisions and tax elections.

  • Tax-deferred assets — such as stock options, 401(k) plans, IRAs — require carefully crafted strategies with regard to gains and taxable income.
  • Securities subject to market fluctuation require attention to ensure investment decisions reflect your goals for beneficiaries and address liquidity needs.
  • Real estate and tangible personal property, such as fine art, present unique challenges when it comes to valuation, safekeeping, insurance, distribution, or sale.
  • Closely held businesses — such as family businesses, partnerships, and limited liability companies — require prompt, informed decisions regarding their structure, management, and valuation to further your goals for family control, retention, or liquidation.
  • Powers and elections, possibly including generation-skipping transfer tax exemption allocation, qualified disclaimers, and qualified terminable interest property elections, to name a few, will need to be considered by your executor.