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Trust Officers Can Help Manage Senior Care

Bank trust officers often serve as custodians for a senior adult’s finances. They typically are experts in dealing with estate planning issues.
Bank trust officers often serve as custodians for a senior adult’s finances. They typically are experts in dealing with estate planning issues.

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June 14, 2011

Trust officers can play an important role in managing the care of older adults. Caregiving organizations such as your local Home Instead Senior Care&reg office often work with these professionals to help ensure that older adults are getting the care they need.

Q. My elderly aunt has a bank trust officer managing her finances. Until I learned about my aunt’s arrangement, I had never heard of this job. I’m not sure what these professionals do for seniors and why they are needed. Can you explain?

Bank trust officers often serve as custodians for a senior adult’s finances. They typically are experts in dealing with estate planning issues.

A bank trust officer could help your aunt manage two of the basic tools of estate planning--wills and trusts. Wills are used to distribute assets and property after an individual’s death. And trusts can manage and distribute assets and property during someone’s lifetime as well as after death. An individual can have a living trust while alive or a testamentary trust that is part of the will.

But that’s not all trust officers do. Their jobs are often varied, and they may be called upon to deal with investing, insurance, retirement plans, real estate, property management, taxes, accounting, appraisals, loans and financial planning on behalf of their clients.

Trust officers do not give legal advice, but can direct clients in managing their estates as well as the areas listed above. Their job is to always look out for the best interests of their clients.

In addition, if your aunt needed care, a trust officer could help find the most appropriate options for her.

For instance, Home Instead Senior Care&reg offices often works with trust officers to help provide care for older adults in their homes or to supplement care in senior communities. In fact, the organization has several services geared specifically for the clients of trust officers including patient care service, home preparation service and the settle-in service.

The patient care option involves a CAREGiverSM who will be with a client in the hospital or nursing home providing one-on-one non-medical assistance. Home preparation service helps prepare older adults’ homes for their return after a hospital or nursing home stay. And the settle-in service assists seniors who aren’t feeling well with non-medical assistance in their homes such as preparing meals, answering the phone, assisting with the delivery of durable medical equipment and reminding them to take their medication.

Contact your local bank for more information about bank trust officers.

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