Comprehensive Estate Planning

Substantial assets call for distribution arrangements that the simple transfer of ownership in a will or through joint ownership cannot ensure. By constructing a customized estate plan, you will ensure the distribution of your assets under the specific circumstances and timing that you select.

As part of your Private Client team, the fiduciary team within BB&T Wealth can assist you in determining the best approach to preserve, protect and transfer your wealth in a tax-efficient manner – within the context of your overall goals. In addition to minimizing or eliminating taxes on your estate, our approach to financial and estate planning can include:

  • A detailed review of your current estate plan.
  • Business succession planning.
  • Advice on multi-generational planning.
  • Management of your financial assets after your death.
  • Tax-efficient ways to achieve your philanthropic goals.
  • Management of the complexities, expenses and delays of probate.

Trust Structures

As part of your Private Client team, the fiduciary team within BB&T Wealth can recommend the appropriate trust, or combination of trusts, to fulfill your objectives during your lifetime and beyond. Examples include:

Revocable Living Trust

You transfer assets to the trust but maintain control and have access to principal and income at any time. Your trustee can provide investment management and administrative support at your request or if you become incapacitated.

Irrevocable and Testamentary Trust

Provides for multigenerational transfer of wealth with professional management of assets using a corporate trustee. Allows you to shelter assets from probate and minimize or eliminate estate and gift taxes.

Private Foundation

Established and funded by a family or individual to support nonprofit institutions and charitable causes. Donors maintain control over investment management and grant-making decisions.

Charitable Trust

May be structured as a charitable remainder trust or charitable lead trust. Designed to benefit both the donor and the designated charitable institution. The current beneficiary receives income from the trust assets for a specified term; the remainder beneficiary receives the assets left in the trust at the end of the payment term.

Specialty Assets

We can assist in identifying, selecting and coordinating with subject matter experts in specialty businesses such as oil, gas or mineral properties, farms, ranches, real estate, timberlands or arts and collectables.

Trustee Services

BB&T Wealth can administer your trusts and manage the trust assets for the long-term benefit of your beneficiaries as well as serve either as sole trustee or as a joint trustee with a family member or another advisor.

Your Private Client team and BB&T Wealth fiduciary specialists strive to fulfill all of the responsibilities associated with your trusts, delivered with our hallmark personal service – to you and your heirs. BB&T Wealth services as trustee include:

  • Safeguarding the trust’s investment assets.
  • Maintaining complete financial records.
  • Distributing income and principal according to the directions of your will or trust agreements.
  • Providing detailed statements to the beneficiaries and filing the trust’s income tax returns.
  • Reporting to the probate court, when necessary.
  • Working in concert with your attorney and other personal advisors to achieve your objectives.