Trust and Fiduciary Services - The Private Bank - Wells Fargo

Trust and Fiduciary Services

Trust Services

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We provide a comprehensive range of trust and fiduciary services tailored to the circumstances of each trust account. A dedicated team of experienced investment and administrative professionals with fiduciary experience are responsible for the management and day-to-day administration.

Benefits of a Trust

Designed to support your goals, a revocable trust can help:

  • Reduce payment of estate taxes
  • Control how you leave assets to your heirs
  • Assist in the event you become incapacitated or unable to manage your financial affairs
  • Provide for dependents
  • Contribute to charitable causes you care deeply about

Naming Your Trustee

A trustee has the fiduciary duty, legal authority, and responsibility to manage your assets held in trust and financial matters on your behalf. The trustee can be an individual, corporation, or association.

Depending on the nature of your trust, the trustee may be required to perform a number of varied and complex duties, including: 

  • Investing and managing your trust’s assets in all market conditions
  • Paying your bills and expenses if you are incapacitated or absent
  • Making income and principal distributions to beneficiaries according to the terms of your trust agreement
  • Maintaining detailed financial records
  • Making periodic account and tax reports to beneficiaries
  • Preparing and filing the trust’s income tax returns

If you are considering an individual such as a family member or a trusted advisor, make sure they have the time, knowledge, and desire to assume this role.

You may also want to consider the benefits of naming a corporate trustee.  In our capacity as your corporate trustee, Wells Fargo Bank has the experience, knowledge, and objectivity to implement your instructions. When you engage us as your corporate trustee, we:

  • Follow the instructions of your trust agreement faithfully
  • Make decisions impartially
  • Administer your trust consistently
  • Apply compliance standards to administer your trust in accordance with government regulations
  • Manage and safeguard your assets

Corporate Trustee Services

When you choose Wells Fargo Bank, N.A. as your corporate trustee, you remain in control of your trust until you become incapacitated or pass away. At that point, the specialists at Wells Fargo Bank pick up where you left off—assuming responsibility for administering your trust, managing your investments, and maintaining continuity.

As corporate trustee, Wells Fargo Bank can step in when you become incapacitated to help in a variety of different ways, including:

  • Facilitating insurance benefits
  • Maintaining accurate accounting and record keeping
  • Notifying banks, brokerages, and other institutions
  • Transacting business as necessary
  • Assembling a team of advisors

And when you pass away, we can assume our responsibility as corporate trustee to implement the appropriate provisions as specified by you in your trust and:

  • Inform your beneficiaries 
  • Inventory your assets and determine fair market value
  • Make any partial distributions that are required
  • Collect your benefits such as Social Security
  • Pay final expenses and file tax returns
  • Handle all accounting and record keeping
  • Distribute your assets to beneficiaries as directed in your trust

Specialized Trust Services

For those with complex needs, Wells Fargo Bank, N.A. offers a number of trust options that may address your specific situation, or that of a loved one. Our extensive range of fiduciary services includes:

Life Management Services - Get the help you need to maintain your personal and financial independence

Special Needs Trusts - Provide for loved ones living with a disability

Legacy Trusts - Pass your wealth on to multiple generations of your family

Estate Services - Put a plan in place for your entire estate settlement process

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