Personal Trust

Providing for your family even after you're gone is important. Our trust management services will help you set up a trust to protect your assets from excess taxes and properly manage your estate until it can be passed to your beneficiaries.

Trusts vs. Wills

To put it simply, a trust is a legal document, similar to a will, that contains your instructions for what to do with your assets when you die. But unlike a will, a trust can be used to consolidate any and all of your assets into a single account, provide more privacy, distribute your assets faster, and possibly avoid probate – preventing the courts from taking control of your assets and taxing them when your will is executed.

Revocable trusts

An account that you can continue to contribute assets toward and earn income from until a set date or your death. At that time, the assets are transferred to your beneficiaries.

Charitable remainder trusts

An irrevocable, split-interest trust that generates a potential income stream for you or your beneficiaries. The remainder of the trust’s assets will be donated to a charity of your choice.

Irrevocable Trusts

A account that can’t be changed or canceled without the beneficiaries’ permission. Once you’ve established the trust and transferred your assets, you forfeit all ownership to those assets.

Special needs trust

A trust established for the benefit of a beneficiary with special needs, which prevent them from managing the trust, to preserve their future health and happiness.

Agency and custody accounts

An account managed on behalf of beneficiaries who are temporarily unable to manage the account themselves, such as minors.

Insurance trusts

An irrevocable trust that contains one or more insurance policies which will be invested at the time of the policy holder’s death. Proceeds will be distributed to the chosen beneficiaries.

Corporate trustees

When you set up a trust, you need to name someone (a trustee) to manage the assets owned by your trust. A corporate trustee is a bank’s trust department or a trust company whose employees will protect and manage the trust based on your needs and wishes.

Even the most financially savvy investors can have trouble deciding how to manage their trust. No one can predict how the market will shift from year to year, and what makes sense for some investors might not make sense for you. When you name a corporate trustee, they will be legally bound to manage your trust as directed, and in the best interest of your estate and its beneficiaries.

Sole trustee

The corporate trustee will act in your best interest to manage and protect your assets according to the terms of your trust.

Investment agent

A person, group, or company that will invest your trust assets under oversight from you or your appointed trustee.

Co-trustee

You and the corporate trustee will share the responsibility of managing and protecting your trust.

Successor trustee

A person, group or company that will assume responsibility for the management of your trust assets upon your death or incapacitation.

Living Trusts

A will may not be the best plan for you and your family. That’s because a will must be validated by the probate court before it can be enforced. Also, because a will can only go into effect after you die, it provides no protection if you become physically or mentally incapacitated. A living trust allows you to transfer assets into a trust that you control, while protecting those assets from being seized and taxed by the courts.

Probate

The process of entering your will into the court as a public document to “prove” that it has been executed and your assets are distributed accordingly.

Up to 3 years

The amount of time the probate process can take to collect your assets, settle your debts, and make distributions to your beneficiaries.

Privacy

A living trust is not entered into the public record, so all transactions and distributions tied to your trust are kept private.