Senior Legal Counsel, Trust and Advisory

The Northern Trust Company; Chicago (IL); Hybrid; USD 160,000 - 272,000; Full time

Job summary

Northern Trust is seeking a Senior Legal Counsel in the Wealth Management Legal division in Chicago. The attorney will advise on trust and estate law, fiduciary matters, and tax issues, reviewing wills and trust documents and supporting management and business partners.

The role requires a J.D. with 10+ years of experience, strong analytical skills, and ability to work across teams in a hybrid model with some evenings and weekends as needed. Salary range provided.

Qualifications

• J.D. degree from an accredited law school and must meet attorney licensing requirements in the jurisdiction where the position is located.
• 10+ years of experience in trusts, estates, fiduciary matters in a law firm or in‑house.
• Ability to review wills and trust documents and advise on fiduciary matters.
• Strong analytical skills and practical judgment.
• Excellent communication and collaboration with partners and internal stakeholders.

Responsibilities

• Reviewing and analyzing Will and trust agreements when the bank serves in a fiduciary capacity.
• Providing legal counsel to Wealth Management on trust and fiduciary matters, including review of trust documents and estate settlement matters.
• Analyses proposals to modify or terminate trusts and assess legal risks.
• Overseeing and monitoring trust and estate litigation when Northern Trust acts fiduciary.
• Promoting education and presenting to internal partners and participating in Bar meetings.

Skills

J.D. degree

Bar admission

Trust & estate law

Legal analysis

Negotiation skills

Education

J.D. degree

Job description

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world's most successful individuals, families, corporations and institutions.

Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.

With more than 135 years of financial experience and over 24,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

Role/Department : Senior Legal Counsel, Trust & Advisory/Wealth Management Legal

The candidate will be an attorney with broad experience in all areas of trusts, estates guardianship and transfer taxes. Reporting into Trust Counsel, this individual will use their knowledge of trust and estate law as well as estate, gift and generation-skipping transfer tax rules, to advise on legal risks and compliance issues. Strong analytical skills are required to review will, trust and other fiduciary documents and related agreements.

The key responsibilities of the role include:

• Reviewing and analyzing Will and trust agreements when the bank is named to serve in a fiduciary capacity in order to protect the bank, comply with the law, and satisfy client expectations;
• Reviewing and analyzing other legal documents such as post nuptial agreements, DISCLAIMERS?? settlement agreements, decanting documents, consents, waivers, etc. and providing legal advice to internal partners regarding same;
• Providing legal counsel to management and business partners in our Wealth Management business on a broad range of trust and fiduciary matters, including review of trust documents, estate settlement matters, trust real estate matters, homestead issues, trust and estate litigation and complex trust/fiduciary legal issues;
• Serving as a resource and providing legal advice to internal partners in our Wealth Management business concerning on-going trust and estate administration matters and questions that arise;
• Analyzing proposals to modify or terminate trusts in order to assess the legal risk and working in conjunction with the Chief Fiduciary Officer and the partners on same;
• Acting as legal advisor to various committees to advise on legal risk and compliance issues;
• Overseeing and monitoring of trust and estate litigation when Northern is acting in a fiduciary capacity and working with the internal and external litigation teams on matters when the bank is sued in its corporate capacity;
• Reviewing resignations, removals and signing off on distribution memos for account terminations;
• Promoting the bank by attending and speaking at industry and client conferences;
• Giving educational presentations to internal partners in Wealth Management; and
• Participating in local and state Bar meetings.

Required Qualifications

• Must possess a J.D. degree from an accredited law school and must meet attorney licensing requirements in the jurisdiction in which the position will be located, prior to and after commencing employment;
• We are open to candidates in the following locations if they meet the above jurisdictional requirements: Delaware, Florida, Illinois or Texas. The candidate must in good standing with the State Bar;
• Candidates should have at least 10 years of experience working in a major law firm or in-house practice in the trust and estate area;
• Very high level of trust and estate knowledge and broad experience in all areas of trust, estates, guardianships, and transfer taxes;
• Ability to handle a wide range of trust and fiduciary matters independently; using high quality legal analysis and practical judgment;
• Ability to spot issues and risk to the bank and develop appropriate solutions;
• Ability to make important decisions quickly and independently;
• Ability to multi-task and handle many matters at the same time;
• Ability to be responsive within short deadlines;
• Excellent communication skills;
• Ability to work closely as a team member both within the Legal group and with business partners;
• Ability to develop good relationships and rapport with outside counsel;
• Experience in drafting and administering wills and trusts is essential;
• Strong negotiation skills;
• Knowledge and experience of non-U.S. international trust and fiduciary matters, estate tax and other relevant experience is a plus

***Schedule: Full-time (Standard Hours: 40); hours are 8:30-5; some nights and weekends may be required.

Working Model : Hybrid (#LI-Hybrid)

#LI-EA1

Salary Range:
$160,100 - 272,300 U