Richard Whitman

- Serve in a fiduciary capacity of Trust Officer for a book of accounts consisting of irrevocable special needs trusts, irrevocable settlement protection trusts, revocable trusts and investment management accounts.

- Meet and correspond with clients, facilitating and evaluating their needs and requests with internal partners.

- Review financial information provided by trust beneficiaries to determine their financial dependence from the trust account, while also considering any public benefits they may be receiving.

- Communicate with clients the tax implications of being a beneficiary of a trust account, and recommending accountants to assist them with their personal taxes.

- Work with settlement planners at Forge Consulting, LLC to open new trust and investment management accounts during the settlement process.

- Engage outside care managers and specialty services as needed.

- Manage real estate inspections, appraisals, repairs, and modifications as needed for trust owned homes.

- Review homeowner's insurance coverage and file real estate insurance claims as needed.

- Perform annual account reviews to ensure that the trust account is in good order and that policies and procedures are being adhered.

- Facilitate age attainments, unitrust calculations, and trust terminations as needed.

- Engage outside attorneys as needed.

- Set-up and periodically analyze any annuities held by the trust. This would includes Structured Settlement Annuities, Fixed Income Annuities, and Single Premium Immediate Annuities.

- Review the trust to see if the client would benefit from the trust owning a 529 plan or medicare set-aside account.

- Serve in a fiduciary capacity as a Trust Officer for a book of accounts consisting of irrevocable trusts, revocable trusts, and investment management accounts

- Communicate with clients regarding request fulfillment, servicing, and remediation, as dictated by Wells Fargo’s policies and procedures

- Analyze and assess the provisions of the trust document, while acting in a fiduciary capacity in approving or denying requests from trust beneficiaries

- Work with co-trustees, attorneys, accountants, trust protectors, and outside investment managers as needed when administering trust or investment accounts

- Explain and document the tax implications of various trust activities to internal partners and clients

- Serve as a voting member on the national Wells Fargo Family Office Personal Trust Committee, reviewing complex discretionary requests, loans, and decanting on a monthly basis for Wells Fargo Family Office accounts

- Review and add closely held businesses, alternative assets, and loans as a holding of trust or investment management accounts

- Perform administrative reviews on trust and investment management accounts

- Adhere to document provisions, state statutes, governmental regulations, and internal policies when administering all accounts

- Process discretionary requests, gifts, security transfers, and money movements

- Open and close irrevocable trusts, revocable trusts, and investment management accounts

- Handle age attainments, partial terminations, power to adjusts and unitrust calculations

- Serve as a point of contact and subject matter expert on fiduciary products for internal partners

- Provide guidance and training to other trust officers on the team when needed

- Inform team members of updates and changes to internal policies and procedures