Find an advisor

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.

Estate planning

3 stages of effective wealth transfer

Read more about three stages of effective wealth transfer.

Estate planning

Ways to protect your wealth with insurance

Read more about the ways to protect your wealth with insurance.

Risk management

Nearing retirement: Portfolio and risk management

Read more about portfolio and risk management.
Component ID : "accordionGridLayout-1194370725"
Model : "disclaimer"
Position : "left"

Disclosures

Truist Bank, Member FDIC. © 2024 Truist Financial Corporation. Truist, the Truist logo and Truist Purple are service marks of Truist Financial Corporation.

Equal Housing Lender

Investment and Insurance Products:

  • Are Not FDIC or any other Government Agency Insured
  • Are Not Bank Guaranteed
  • May Lose Value

Services provided by the following affiliates of Truist Financial Corporation (Truist): Banking products and services, including loans and deposit accounts, are provided by Truist Bank, Member FDIC. Trust and investment management services are provided by Truist Bank, and Truist Delaware Trust Company. Securities, brokerage accounts and /or insurance (including annuities) are offered by Truist Investment Services, Inc., which is a SEC registered broker-dealer, member FINRA, SIPC, and a licensed insurance agency. Investment advisory services are offered by Truist Advisory Services, Inc., GFO Advisory Services, LLC., each SEC registered investment advisers.

Mortgage products and services are offered through Truist Bank. All Truist mortgage professionals are registered on the Nationwide Mortgage Licensing System & Registry (NMLS), which promotes uniformity and transparency throughout the residential real estate industry. Search the NMLS Registry.

Comments regarding tax implications are informational only. Truist and its representatives do not provide tax or legal advice. You should consult your individual tax or legal professional before taking any action that may have tax or legal consequences.

"Truist Advisors" may be officers and/or associated persons of the following affiliates of Truist, Truist Investment Services, Inc., and/or Truist Advisory Services, Inc. Truist Wealth, International Wealth, Center for Family Legacy, Business Owner Specialty Group, Sports and Entertainment Group, and Legal and Medical Specialty Groups are trade names used by Truist Bank, Truist Investment Services, Inc., and Truist Advisory Services, Inc.

Truist Securities is a trademark of Truist Financial Corporation. Truist Securities is a trade name for the corporate and investment banking services of Truist Financial Corporation and its subsidiaries. All rights reserved. Securities and strategic advisory services are provided by Truist Securities, Inc., member FINRA and SIPC. Lending, financial risk management, and treasury management and payment services are offered by Truist Bank. Deposit products are offered by Truist Bank.

Applications, agreements, disclosures, and other servicing communications provided by Truist Bank and its subsidiary businesses will be provided in English. As a result, it will be necessary for customers to speak, read and understand English or to have an appropriate translator assisting them. Truist offers the following resources for consumers that have Limited English Proficiency:

  • Multilingual teammates available at our Multicultural Banking Centers
  • Materials for some products and services are available in Spanish, Korean, Vietnamese, Mandarin, and other languages spoken in the communities we serve.
  • Phone assistance in Spanish at 844-4TRUIST (844-487-8478), option 9. For assistance in other languages please speak to a representative directly.

New York City residents:

Translation or other language access services may be available. When calling our office regarding collection activity, if you speak a language other than English and need verbal translation services, be sure to inform the representative. A description and translation of commonly-used debt collection terms is available in multiple languages at http://www.nyc.gov/dca.

  • Limited English Proficiency Support
  • New York City residents

Borrowers with Limited English Proficiency (LEP) needing information can use the following resources:

Site footer

Footer Navigation

Banking products
About Truist
Resources
Support

© 2024, Truist. All Rights Reserved.