U.S. Trust has launched an eldercare service as part of an expansion of its wealth management and estate planning capabilities.
The new service is designed to help clients take control of “their biggest fiduciary, financial and health-related concerns related to aging and long-term care for themselves and elderly family members,” according to a press release.
“Fear, uncertainty and a lack of trusted legal, financial and healthcare advice have caused many people to put off planning for eldercare, leaving them with piecemeal, disparate or rushed solutions that put their health, family and financial security at risk,” said Keith Banks, president of U.S. Trust, in the press release.
The services that U.S. Trust will provide its private wealth clients include organizational tools that will help organize vital information and documents, including paper files, electronic records and digital passwords. These tools will be accessible to assist anyone designated to act on behalf of the client. It also will help with the management and coordination of service providers and give support to family members anywhere in the country through a strategic alliance with a nationwide referral network of external health care providers and professionals.
U.S. Trust is part of the Global Wealth and Investment Management unit of Bank of America.