Delaware Trust Administration - Legal Intern

At Franklin Templeton, we’re driving our industry forward by developing new and innovative ways to help our clients achieve their investment goals. Our dynamic and diversified firm spans asset management, wealth management, and fintech, offering many ways to help investors make progress toward their goals. Our talented teams working around the globe bring expertise that’s both broad and unique. From our welcoming, inclusive, and flexible culture to our global and diverse business, we offer opportunities not only to help you reach your potential but also to contribute to our clients’ achievements.

Come join us in delivering better outcomes for our clients around the world!

Department Title: Legal Intern – Fiduciary Trust (Delaware – 2nd year law student)

Location: This position will be based in our Wilmington, Delaware office. This internship will be on a hybrid basis, and the candidate will be required to come into the office at least 3 days a week.

Position Summary: 

The Legal Intern position is for a 2nd year law student to assist Fiduciary Trust with several ongoing projects.

Department Overview:

• The department is responsible for the Fiduciary management of all Delaware-sitused trusts.
• The team is both cohesive and collaborative. 
• There are great opportunities for shared learning. 
• The team frequently interacts with other markets in managing the administration of trusts.

By the end of your internship, an intern can expect to learn:

• How to review and analyze trust instruments for key provisions.
• How to review and analyze LLC/LP operating agreements for key provisions.

Key Responsibilities can Include:

• Unbooked Asset Project – The team is currently working on adding all previously unknown/unbooked entity assets to our system and requesting back-up/KYC information about the entity.
• 31/36 Project: Review of all formerly known as “31” accounts to determine if it was opened properly and coded correctly.  If it should have been opened as a “36” directed account with a corresponding 121 IMA account – close incorrect accounts and open new 36/121 accounts with all associated paperwork.
• Promissory Note Project: Review of each promissory note held on our system.  Do we have the correct promissory notes?  Are interest payments being made?  Is imputed interest being reported?  Do the notes need to be renegotiated and repapered to bring them current (will involve outside counsel)?
• Asset Transfer Project: Confirming the correct paperwork is in place and assets have been settled into the correct account (i.e., LLC account or IMA account) rather than the original/main account (36/31 account).
• Updating Delaware Fee Schedule: Market research and updating Delaware fee schedule to include cash component to avoid overdrafts.
• GST Project: Review of all trusts and confirming proper coding of GST status and receipt of Form 709/706.

Ideal Qualifications, Skills, & Experience:

We’d like to see enthusiastic law students who are eager to learn and engage with a close-knit team of colleagues. 

Ready to make moves? Apply today!

When applying, please be sure to attach your resume. Applications without a resume file attachment will not be reviewed.

Due to the large volume of applications anticipated, we may not be able to personally contact every applicant. If you are interested in applying to more than one Franklin Templeton internship, please apply for other internships that pique your interest.

Compensation Range: This is a full-time internship where students will work approximately 35 hours per week and earn competitive hourly pay of $32 USD per hour. There are several factors taken into consideration in making compensation decisions including but not limited to location, job-related knowledge, skills, and experience. At Franklin Templeton, we apply a total reward philosophy where all aspects of compensation and benefits are taken into consideration in determining compensation. 

What makes Franklin Templeton unique?

We believe that being a good corporate citizen is good business. To us, corporate citizenship means being accountable, serving our clients, being an employer of choice, managing our environmental impact, and supporting our communities. An emphasis on corporate citizenship is embedded in our culture, and is an important element of how we achieve success.

We are also committed to your learning and development with resources focused around Experience, Exposure, and Education, to help you achieve your professional development goals.

Franklin Templeton is an Equal Opportunity Employer. We are committed to equal employment opportunity for all applicants and existing employees and we evaluate qualified applicants without regard to ancestry, age, color, disability, genetic information, gender, gender identity, or gender expression, marital status, medical condition, military or veteran status, national origin, race, religion, sex, sexual orientation, and any other basis protected by federal, state, or local law, ordinance, or regulation. We invite you to visit us at Franklin Templeton Careers to learn more about our company, career opportunities and recruitment process.

Franklin Templeton is committed to fostering a diverse and inclusive environment. If you believe that you need an accommodation to search for, or apply for, one of our positions please send an email to accommodations@FranklinTempleton.com . In your email, please include the accommodation you are requesting and the job title and job number you are applying for. It may take up to three business days to receive a response to your request. Please note that only requests for accommodations will receive a response.