Estate Administration

All the answers you need to maintain your estate

When Amegy Bank serves as executor, co-executor or agent of your estate, we will perform the required duties to help ensure that your instructions will be carried out and that your designated beneficiaries will receive professional care and attention.

Estate Administration Services Include:

Management of Estate Assets

  • Open estate account with financial institution
  • Collect and take inventory of all assets
  • Arrange the transfer and re-registration of securities
  • Invest all surplus cash in a safe, short term investment
  • Manage investment portfolio to meet the needs of the estate
  • Maintain records of all transactions
  • Arrange for distribution of assets after settlement of estate

Inventory & Appraisal

  • Inventory all assets of the estate
  • Arrange for appraisal of real estate, jewelry, art, etc.
  • Coordinate all insurance policies
  • Address any issues regarding family owned businesses, partnerships and closely held stock

Real Estate/Oil & Gas

  • Evaluate all oil and gas interests as well as real estate
  • Gather all necessary documents related to these assets
  • Continue to maintain property as well as pay taxes, bills, collect revenue from assets, maintain          insurance, etc.
  • Maintain detailed records of all transactions

Administration & Accounting

  • Determine liquidity needs for ongoing expenses
  • Pay all valid claims against the estate
  • Maintain detail records of all activity until the estate is settled
  • File all medical claims and insurance claims
  • Settle all debts (bank loans, credit cards, mortgages, etc)

Tax & Legal Responsibilities

  • Locate the will and file with the local Probate Court
  • Select the most advantageous valuation date
  • Represent the estate in claims against others
  • Assist in preparing the following tax returns:
    Forms 706, 1041, 709, and 1040
  • Obtain an estate tax closing letter from IRS

Responsibilities to Beneficiaries & Family

  • Notify all heirs of their interest in the estate
  • Communicate regularly with all beneficiaries
  • Help to manage potential conflicts of interest when multiple beneficiaries are involved

The products and services offered by Amegy Private Wealth Services are available through either Amegy Bank N.A., Amegy Investments, Inc., or Amegy Insurance Agency, Inc.  The specific wealth management service(s) and/or product(s) that a client is interested in will determine which Amegy affiliate makes them available, based on US laws and regulations.  Investment management services are available through Amegy Bank N.A.  Self-directed investment products and services and investment advisory services are available through Amegy Investments, Inc., member FINRA/SIPC, a registered broker dealer, investment advisor, licensed insurance agency and an affiliate of Amegy Bank N.A.  Certain other insurance products and services are available through Amegy Insurance Agency, Inc., a licensed insurance agency and an affiliate of Amegy Bank N.A.   

Investment and insurance products offered are NOT insured by the FDIC or any other governmental agency, are NOT deposits or other obligations of, or guaranteed by Amegy Bank N.A., its affiliates, or any other bank, and MAY be subject to investment risks, including the possible loss of principal value or amount invested.