|
TRUST & ESTATE SERVICES
Living Trusts
Our most comprehensive and versatile financial management service and estate-planning tool is the Revocable Living Trust. Consider this estate-planning tool.
Control: You remain in control by retaining the ability to amend, restate, or revoke the trust and direct the trustee’s activities.
Investment Management. Just as with our Investment Management Account, we begin by developing an investment strategy tailored to meet your individual goals, objectives and needs. Investing is our business. We take it seriously. We believe sound Investment Management requires work, attention to details, objectivity and decisions grounded in experience. We implement the plan, providing continuous portfolio supervision.
Convenience. As trustee, we handle every conceivable chore relating to the care and handling of your investments. We can, at your request, move beyond just the investment responsibilities and arrange to pay household bills and taxes from your trust. Trust income and principal are distributed or reinvested as directed in the trust document or by you personally.
Future self-protection. Even better yet, your Living Trust is a valuable tool if you become incapacitated as a result of an accident or health problem. As trustee, we continue to carryout your instructions and act as your financial alter ego.
Continuity. Your trust can continue beyond your lifetime and you can designate the individuals (for instance, your spouse or children) who will receive payments of income and principal as and when you direct. Any provisions that you might include in your Last Will and Testament can be included in your Living Trust.
Privacy. A person's Last Will and Testament remains private during their lifetime, but it is a matter of public record when probated. Your Living Trust remains much more private.
Estate Settlement Cost & Tax Savings. Since a Living Trust is not subject to probate proceedings, significant estate settlement savings may be possible. In addition, trusts can be structured to shelter all or a part of your assets from estate taxes.
Personal service, professional trust administration and successful investing is only a click or phone call away at Central Bank. It would be our privilege to discuss in detail with you how we could serve you as trustee of your Living Trust.
Charitable Trusts
Several types of trusts provide protection for you and your family and support for a favorite charity. There can be valuable income, estate and gift tax advantages to these arrangements that make the creation of these trusts even more interesting and advantageous. Tax benefits are only available to charitable trusts that are irrevocable, that is, they can never be changed.
If you are interested in benefiting your family and a charity, some of the estate planning tools you might want to consider includes a Charitable Remainder Trust, a Charitable Lead Trust or a Private Foundation. We can provide planning advice, Investment Management services, and function as trustee for your charitable trust or foundation.
Estate Planning
Planning is key to sound, wise and thoughtful division and transfer of your property according to your wishes and desires. It does not happen by accident and chance. Significant savings of taxes and settlement expenses may be achieved by informed planning with qualified professionals. Your team may well include your attorney, accountant and trust officer. If it has been a substantial amount of time since the last review of your will or trust, it may be wise to revisit the plan to confirm that it still carries out your wishes with favorable tax and settlement expenses.
Our professional staff has over 135 years working to plan and settle estates and has extensive experience in trusts, wills, gift and estate taxes, charitable trusts and insurance.
Estate Settlement
Choosing an unbiased professional trustee, executor, or personal representative of your estate can promote and provide harmony in the matter of the settling an estate in a quick, cost effective, and efficient manner. Our professional staff has settled many and varied estates.
Look to us at Central Bank Investment Management and Trust Services for help and assistance with your estate planning and administration.
|
