Private Wealth Paralegal

Private Wealth Paralegal Chicago IL

Job

The Private Wealth Paralegal is responsible for providing paralegal support and assistance to attorneys in the management, coordination, and administration of all aspects of trusts and estates in probate within established administrative procedures. This position requires appropriate client and advisor contact. Maintains professionalism and strict confidentiality in all client and firm matters.

This role offers a hybrid work model, allowing the flexibility to work both on-site and remotely on a regular basis.

Essential Duties and Responsibilities include, but may not be limited to, the following. Other duties may be requested and/or assigned. Essential functions are primary job duties that an individual must be able to perform successfully with or without a reasonable accommodation. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Oversee all aspects of trusts and estates in probate.
• Prepare and file probate documents in order to open and/or close estates, as well as prepare all requisite documents relative to trusts and estates in probate.
• Collect and distribute estate/decedent’s assets by contacting banks, brokerage houses, and appraisers. Prepare receipts and releases. Open, establish, and maintain estate checking accounts.
• Compile all information required to prepare gift and estate tax returns. Prepare and file Illinois state and federal estate tax returns including the court inventory. Review completed tax returns, prepare checks, obtain necessary signatures, and forward to the IRS. Forward executed tax returns to accountants; maintain archival files.
• Coordinate asset transfers and funding of trusts. If necessary, communicate with necessary parties relative to appropriate funding.
• Prepare for federal audit or state gift/estate tax audits.
• Research and investigate any requests, problems or issues, and resolve with appropriate parties.
• Prepare initial drafts of client correspondence and memos.
• Responsible for client contact and communication to clients.
• Perform file organization and maintenance.
• Maintain up-to-date time reports to ensure accurate client billing.

Supervisory Responsibilities

• On a case-by-case basis, may supervise the work performed by Project Assistant and/or Paralegal I and II staff. Carries out supervisory responsibilities in accordance with the firm’s policies and applicable laws. Responsibilities include interviewing, training, and providing input into the performance appraisal process.

Knowledge,

Skills and Abilities

• Bachelor’s degree and five or more years progressive trust administration experience managing all aspects of trust accounts are required, preferably in a law firm environment; or equivalent combination of education and experience. Legal research knowledge and ability to use law library are required. Paralegal certificate from an ABA accredited paralegal program a plus.
• Computer proficient with experience and working knowledge of Westlaw and other trust-related databases, Internet research, due diligence, Excel, Access, Outlook, and MS Word preferred. Applicable knowledge of legal and investment terminology with a strong trust administration background and proficiency in West’s Federal Estate Tax program and fiduciary income tax forms and extensions. Ability to prepare federal and state estate tax returns, as well as familiarity with estate and gift tax return software programs, highly desirable.
• Exhibit high degree of initiative with excellent analytical, technical, and critical-thinking skills requiring an aptitude for detail, precision, and logic in order to analyze and research probate trust/estate data, process information, conduct legal research, and perform essential duties.
• Excellent organizational skills including record keeping, data collection, and system information. Ability to compile and analyze complex data and furnish concise, detailed information in report format, written correspondence, e mail, or verbally.
• Excellent interpersonal, verbal, and written communication skills. Ability to communicate with courtesy and diplomacy, efficiently follow written and…