Issue 22: 2012

Family Wealth Services

A comprehensive, values-based approach to meeting the wealth management needs of our clients and their families

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At U.S. Trust, we view our client relationships as family relationships. We recognize that your individual needs are often closely connected to other family needs, and at times, addressing one uncovers others. In other words, we know that your financial and planning goals are part of a bigger picture that includes the requirements of your family, your aspirations for the future, and your philanthropic and legacy objectives. They are often multidimensional and may span several generations, from providing for the generation that came before you to helping prepare the generation that will follow.

Our goal at U.S. Trust is to help meet the broad range of wealth management needs for you ? and your family. Our approach, which we call Family Wealth Services, draws upon our expertise in wealth structuring, investment management, and credit and banking. Explore the wide range of services available through U.S. Trust that can benefit you and your family.

PHOTOGRAPH BY ANDREW FRENCH

Next Gen Education

Helping children to become financially literate is a particular concern of wealthy families because of the complexities and demands of managing substantial assets. U.S. Trust?s Financial Empowerment program was created specifically to help young adults in their twenties and thirties make informed financial decisions ? whether they are starting careers or already have their own families. The program provides knowledge and tools on a wide range of financial topics to help build the foundation on which participants can manage their financial futures.

Your financial and planning goals are part of a bigger picture that includes the requirements of your family.

Eldercare Planning

Many families do not have plans in place for the care of parents or other aging relatives, in part because planning for the challenges associated with aging can be quite complex. It requires an understanding of diverse options for living arrangements, healthcare, financial planning and estate planning. Through in-house and external expert resources, U.S.?Trust can help you evaluate options, both to meet the current requirements of your elderly relatives and to plan for your own eventual needs. We offer comprehensive assistance in four basic areas: organizational services, facilitating care coordination, financial planning and estate planning.

Wealth Planning for Women

Compared with men, women are more likely to be primary caregivers, to face significant retirement income gaps and, if married, to outlive their spouses. As a result, they often have unique planning needs. The U.S. Trust Women and Wealth offering focuses on addressing the specific planning issues associated with life events ? such as the death of a spouse, dealing with a divorce, caring for an aging loved one, or articulating and implementing a philanthropic vision for one?s family ? that frequently have profound effects on our women clients.

Wealth Planning for LGBT Domestic Partners

Domestic partners do not enjoy the same legal rights and benefits as opposite-sex married couples with respect to a host of issues, including wealth transfer, tax planning, retirement benefits, decision making during incapacitation and at death, adoption and child care. Moreover, the rights domestic partners do have are constantly evolving at both the federal and state levels. At U.S. Trust, we have a clear understanding of these issues, and we have found that careful planning supported by the proper documents can go a long way toward helping domestic partners protect themselves from the unexpected, control the disposition of their property and ensure their legacy.

Services for Individual Trustees

Many people appoint a family member or a longtime advisor as executor of their estate or trustee of their trust because they know that person understands their goals and, in many cases, knows the heirs. Serving as executor or trustee, however, means assuming a great deal of responsibility and potential financial liability if mistakes are made, and performing a variety of tasks that require wide-ranging skills. By acting as the agent for an executor or for a trustee, U.S. Trust can ease the administrative workload and free the person you appoint to focus on honoring the wishes you expressed when you established your will or trust.

Creating a financial legacy that will enhance the lives of future generations requires highly sophisticated planning.

Estate Settlement

Settling an estate is a complex and highly technical responsibility requiring a substantial commitment of time and a range of skills for which few individuals are prepared. The role frequently requires decisions that must be balanced between competing or conflicting interests. Moreover, the person you choose to settle your estate may be exposed to potential financial liability if mistakes are made. U.S. Trust offers you the skill and resources of experienced specialists who can oversee each stage of the estate settlement process.

Delaware Trusts

Creating a financial legacy that will enhance the lives of future generations requires highly sophisticated planning. The state of Delaware has a unique and well-established body of trust law that makes the state an attractive place to domicile many types of trusts regardless of the grantor?s state of residence. Families choose to have a Delaware trust to take advantage of the enhanced planning options that such an arrangement provides. Our clients can easily establish a Delaware trust through U.S. Trust Company of Delaware and gain access to the important benefits Delaware trusts offer.

Philanthropy

Philanthropy is often about more than giving money. It is about fulfilling goals of great personal importance and acting on deeply held values. Combining family members? passion to make a difference and U.S.?Trust?s experience working with generations of philanthropists can lead to a rewarding experience for you and your family, and can help you realize your philanthropic goals with greater efficiency, effectiveness and personal fulfillment.

Families and Values-Based Planning

In creating our Family Wealth Services offerings, we are guided by the firm belief that a successful wealth management plan must do more than meet your own unique needs; the most sophisticated wealth transfer and philanthropic strategies in the world don?t really mean anything if they don?t also embody your family?s values. Our goal is to create a blueprint for your family?s future that reflects who you are and what you care about. Our planning process helps families develop and articulate a set of shared values and goals ? personal, family and philanthropic ? which can then be reflected in plans for investments and wealth transfer. This process tends to bring family members closer together, increasing their ability to create and realize opportunities for themselves and the organizations they care about ? and enhancing the likelihood that succeeding generations will continue their legacy.

U.S. Trust Company of Delaware is an indirect wholly owned subsidiary of Bank of America Corporation.

IMPORTANT INFORMATION

Any information presented about tax considerations affecting client financial transactions or arrangements is not intended as tax advice and should not be relied upon for the purpose of avoiding any tax penalties. Neither U.S. Trust and its representatives nor its advisors provide tax, accounting or legal advice. Clients should review any planned financial transactions or arrangements that may have tax, accounting or legal implications with their personal professional advisors.

Always consult with your independent attorney, tax advisor, investment manager, and insurance agent for final recommendations and before changing or implementing any financial, tax or estate planning strategy.