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Estate settlement

Estate settlement is a complex and time-consuming job. As a corporate fiduciary, Truist can make things easier for you and your heirs by fairly and objectively executing the details of your estate plan

Get Started with Truist Estate Planning.

Choosing an executor

In your will, you’ll name an executor (also known as a personal representative). Your executor will administer your estate and distribute your assets to the beneficiaries as set forth in your will.

Extra forgiveness

A little overdrawn? It’s all good.

  • No monthly overdraft fee.
  • $200 Negative Balance Buffer for eligible clients
  • Cash Reserve cash advance

Individual executor

You can choose almost anyone who is an adult and legally competent to serve—a spouse or partner, sibling, friend, business associate, or financial or legal advisor.

  • An agent for executor is a professional agent, such as Truist, hired by an individual executor. The agent advises the executor and handles administrative duties, but the executor retains decision-making and ultimate responsibility for the estate.

Perks Galore

As your Truist total balances increase, so do your benefits.

  • Five benefit levels
  • Automatic upgrades
  • 10%-15% more credit card rewards

Corporate executor

You can choose to name a corporate executor, such as Truist, to fairly and objectively execute the details of your estate plan—and opt to appoint a family member or friend as co-executor to provide oversight.

  • A sole executor takes complete responsibility for settlement, administration, and estate disposition.
  • A co-executor shares responsibility for oversight and administration with other individuals.

Duties of an executor or personal representative

The terms “executor” and “personal representative” are interchangeable and vary from state to state—but the duties and responsibilities are basically the same.

Assets

  • Collects and provides safekeeping for the estate’s assets
  • Collects any sums owed to the estate
  • Distributes assets to beneficiaries

Taxes

  • Files the decedent’s final federal income tax return
  • Files the estate’s income tax returns and the federal estate-tax return
  • Files state death-tax returns

Paperwork

  • Notifies creditors and pays all valid debts
  • Files claims for retirement plan, Social Security, and veterans benefits
  • Sells assets to pay estate expenses or legacies

Additional resources

Get current, in-depth information on trust and estate planning.

Choosing the right executor for your estate | Truist

Choosing the right executor for your estate | Truist

Estate planningChoosing the right executor for your estate

The duties of executor can be complex—requiring time, energy, and commitment.

Article
04/10/2024
Choosing the right executor for your estate | Truist

The duties of executor can be complex requiring time, energy, and commitment.

Nearing Retirement: Portfolio and Risk Management

Nearing Retirement: Portfolio and Risk Management

Risk Management Nearing Retirement: Portfolio and Risk Management

Determine the asset allocation that works for you today

Article
06/30/2023
Nearing Retirement: Portfolio and Risk Management

Now that you’re nearing retirement, keep up your momentum and reduce your investment risk with these strategies.

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