Private Wealth Paralegal

Katten & Marengo - Chicago, IL

Full-time - Mid Level

Hybrid - Chicago, IL

501-1,000 employees

About the position

The Private Wealth Paralegal at Katten is responsible for providing comprehensive paralegal support to attorneys in managing and coordinating all aspects of trusts and estates in probate. This role involves significant client interaction and requires maintaining professionalism and confidentiality. The position operates within established administrative procedures and includes a client billable hour requirement of 1,700 hours annually, with a hybrid work model allowing flexibility between on-site and remote work.

Responsibilities

• Oversee all aspects of trusts and estates in probate.
• Prepare and file probate documents to open and close estates.
• Collect and distribute estate/decedent's assets by contacting banks, brokerage houses, and appraisers.
• Prepare receipts and releases for estate transactions.
• Open and maintain estate checking accounts.
• Compile information for annual tax returns preparation.
• Prepare and file Illinois state and federal estate tax returns, including court inventory.
• Review completed tax returns and prepare checks for IRS submission.
• Coordinate asset transfers and funding of trusts, communicating with necessary parties as needed.
• Maintain and report beneficial ownership information in compliance with the Corporate Transparency Act.
• Prepare for federal audits and resolve any requests or issues with appropriate parties.
• Draft initial client correspondence and memos.
• Maintain client contact and communication.
• Organize and maintain files and time reports for accurate billing.

Requirements

• Bachelor's degree and five or more years of progressive trust administration experience managing all aspects of trust accounts, preferably in a law firm environment.
• Legal research knowledge and ability to use law library.
• Paralegal certificate from an ABA accredited paralegal program is a plus.
• Computer proficiency with experience in Westlaw and other trust-related databases, Internet research, due diligence, Excel, Access, Outlook, and MS Word.
• Knowledge of legal and investment terminology with a strong trust administration background.
• Proficiency in West's Federal Estate Tax program and fiduciary income tax forms and extensions.
• Ability to prepare federal and state estate tax returns and familiarity with estate and gift tax return software programs.
• Excellent analytical, technical, and critical-thinking skills with attention to detail.
• Strong organizational skills including record keeping and data collection.
• Excellent interpersonal, verbal, and written communication skills.

Nice-to-haves

• Experience supervising Project Assistant and/or Paralegal I and II staff.
• Ability to work independently and make decisions within the scope of responsibilities.
• Proactive problem resolution and follow-through skills.

Benefits

• Medical, dental, and vision insurance
• 401k with employer contribution
• Parental leave
• Transportation fringe benefit program
• Back-up care option
• Generous paid time off policy
• Long-term and short-term disability policies