Harriet Davies
Editor - Family Wealth Report
30 May 2012
Daily News Analysis
US Trust is setting up specialist “eldercare services” within its wealth management and estate planning unit, providing advice on long-term care and health issues for clients and elderly family members.
The firm will offer “organizational services and tools” to aid anyone designated to act on a client’s behalf. This is a “comprehensive inventory manager” which helps clients and their family members keep track of vital information and documents including paper files, electronic files and digital passwords.
US Trust has also formed an alliance with a “nationwide referral network of external health care providers and professionals,” the firm said, to provide a healthcare management and coordination service.
To educate clients on these issues, it is creating a library of “simple and objective” materials on topics such as life insurance and trusts, Health Savings Accounts, and power-of-attorney documents.
Meanwhile, broader eldercare issues such as philanthropic and legacy planning, estate settlement and trust creation are integrated into its core estate planning services.
