Realizing your vision for the future requires a carefully crafted estate plan and the knowledge, guidance and resources of an experienced team.
Guidance and Strategies to Help Fulfill Your Vision for the Future
Our Approach
An estate plan can help transfer wealth, fulfill philanthropic goals, minimize wealth transfer taxes, maintain privacy, protect assets and provide ongoing management of your affairs if you no longer want or are unable to manage them. Your Bank of America Private Bank team can help educate you and your family about trusts, and can carry out your estate plan as executor and trustee.
Having served generations of families, we have the knowledge, resources and experience to handle trusts and estates with sensitivity and the highest level of professionalism. With professionals located in offices across the country, we can work closely with you, your family and your advisors to administer your estate plan both during and after your lifetime.
Project Title: Private Bank Trust Video |
Date: 03/10/20 |
Version #: As Produced |
Agency/Production Company: Newfangled Studios |
Total Run Time: 1:51 |
ID Code: 2954148 |
Audio Script |
Onscreen copy: What role could a trust play in my wealth management strategy?
Onscreen disclosure: Please read important information at the end of this video.
Hi, I’m Mike Pelzar, Head of National Trust Services at Bank of America.
When I ask clients how they think about trusts, many describe them as a way to transfer wealth and help minimize estate taxes - and that’s true - but trusts are also used to meet a far wider range of needs.
I encourage you to think about it this way: you care for your family, business, and philanthropic organizations today. Creating a trust can help ensure everything that you value will continue to be cared for in the future. Onscreen copy: Build your legacy both during and beyond your lifetime
It’s designed to control how your wealth is distributed so you can provide for the people and causes you care about most. Onscreen copy: Customize and control how your wealth is distributed
For some people, trusts can help to address family dynamics, especially in the case of divorce, blended families, or other complex family situations.
A trust might offer protection from creditors, or anyone who might be looking to take advantage of your family—now or as they get older.
Onscreen copy: Help preserve and protect assets
You may also find a trust helpful if you are likely to be called upon to help a parent or other relative manage their own financial affairs.
Finally, there are the traditional uses of trusts, including tax optimization and minimizing the administrative burden of managing your estate.
Onscreen copy: Minimize federal or state taxes
Plus, a trust can help you avoid a costly probate process.
At Bank of America, we have the objectivity and resources to handle trusts and estates, from the simplest to the most complex. In fact, we’ve been doing it for many generations.
I encourage you to contact an advisor to learn more about Bank of America Trust Services.
Let us help you make your vision for the future a reality.
Disclosure:
IMPORTANT INFORMATION
Bank of America and its affiliates do not provide legal, tax or accounting advice. Clients should consult with their legal and/or tax advisors before making any financial decisions.
Bank of America Private Bank is a division of Bank of America, N.A., Member FDIC, and a wholly owned subsidiary of Bank of America Corporation (“BofA Corp.”).
Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC, and wholly owned subsidiaries of BofA Corp.
Investment products:
| Are Not FDIC Insured | Are Not Bank Guaranteed | May Lose Value |
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Bank of America Private Bank is a division of Bank of America, N.A., Member FDIC and a wholly owned subsidiary of Bank of America Corporation (“BofA Corp.”).
Trust and fiduciary services and other banking products are provided by wholly owned banking affiliates of BofA Corp., including Bank of America, N.A.
Investment products:
| Are Not FDIC Insured |
Are Not Bank Guaranteed |
May Lose Value |
Bank of America, N.A., and U.S. Trust Company of Delaware (collectively the “Bank”) do not serve in a fiduciary capacity with respect to all products or services. Fiduciary standards or fiduciary duties do not apply, for example, when the Bank is offering or providing credit solutions, banking, custody or brokerage products/services or referrals to other affiliates of the Bank.
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