Fiduciary Services

Your individual and family wealth is a key component of your financial
security, independence and lifestyle. As a longstanding, local provider
of corporate fiduciary services, Bank of Utah can help you preserve
and grow your wealth, as:

A trustee for a trust
An executor or personal representative for an estate
A conservator for a conservatorship

Our fiduciary experts work with your attorneys, accountants and financial
advisors to:

Responsibly distribute funds for the benefit and care of your beneficiaries
Implement tax-efficient strategies
Transfer your legacy as directed by your will or trust

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Fiduciary Solutions

Trusts

Bank of Utah can serve as trustee for a variety of trusts (revocable and irrevocable), including marital, spousal and family trusts; legacy trusts; charitable remainder trusts; and more.

Estates

Bank of Utah can serve as an executor or personal representative for your estate, assuming legal and administrative responsibilities, and distributing assets per your estate plan.

Conservatorships

As a legally appointed conservator for a minor or your loved one who is disabled, Bank of Utah can help manage day-to-day finances, ensure that bills are paid and taxes are filed, and more.

Fiduciary Service Highlights

Using the highest standard of care and professionalism, Bank of Utah’s fiduciary experts can provide the following services when serving as a trustee, executor or conservator:

Manage fiduciary assets, including securities, real estate* and miscellaneous assets.
Provide account statements for holdings and transactions.
Pay account expenses.
Administer mandatory and discretionary distributions to beneficiaries.
Complete fiduciary tax returns and reporting.

*Bank of Utah does not take direct ownership or control of commercial real estate in fiduciary accounts or IRAs. Clients may transfer commercial real estate (including vacant lots) into a single-member LLC with a third-party LLC property manager, after which the bank as fiduciary may take ownership of the LLC.

You've built your legacy—now protect it.

We invite you to come in for a free estate planning consultation at Bank of Utah.

Already have an estate plan? We'll help you review it.
Don't have one? We'll help you identify an estate planner who you can work with to establish one.

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Frequently Asked Questions

What Types of Trusts Can Bank of Utah Serve as a Trustee For?

Bank of Utah can serve as trustee for a variety of trusts (revocable and irrevocable), including:

Marital, spousal and family trusts
Legacy, dynasty or generation-skipping exempt trusts
Crummey trusts
Charitable remainder trusts
Grantor unit trusts or annuity trusts
Charitable foundations

Creditor-protection trusts
Supplemental or special needs trusts
Business trusts
Life insurance trusts
Life settlement trusts

What Other Fiduciary Services Can I Expect Through Bank of Utah?

As a fiduciary, the bank can provide the following services:

Take custody and inventory of account assets.
- Secure, preserve or otherwise store miscellaneous assets.
- Transfer stocks, bonds, mutual funds and securities.
- Take control of intangible or digital assets, such as social media accounts.
Maintain and provide a statement of account assets, transactions and activity.
- Maintain or obtain formal and informal valuations of account assets.
Review and approve fiduciary tax returns (e.g. forms 1041, 5227, or 990-PF) and provide any required tax reporting.
Manage residential real estate*, including rentals.
Pay account expenses, including real estate maintenance; utilities; insurance; taxes; personal health/medical costs; final or funeral costs; and legal and accounting fees.
Disburse income and principal assets in cash or in kind per the provisions of the governing trust, will or state law.
Close credit cards, notify and pay creditors, or otherwise negotiate debt payoff for an estate.
Acquire, sell, liquidate or otherwise dispose of account assets.
Full investment management of stocks, bonds, mutual funds or other securities per the investment objective appropriate for the account. Learn more about investment services here.