Carrying out your wishes, when you cannot
Whatever your trust needs, our professionals offer expertise in creating asset management programs designed to manage, protect and grow your assets for the future.

Trust Administration 
Many people envision trusts as highly detailed and complicated. However, trusts can be quite simple and are advisable in any situation where a person wants to guarantee that a certain objective is accomplished.  

Anyone can benefit from a trust. We administer trusts for individuals ranging in age from less than one year to over 90. In many instances the purpose of the trust is to keep family assets intact and use the income for the benefit of several generations with eventual distribution to grandchildren, other selected family members or to charity. 

A trust is the only way to ensure that your wishes are carried out, both during your lifetime and, if desired, for many years after your death. 

Trusts are established for a wide variety of reasons 
including ...

Administration of property/investments for an individual or couple who needs or wants assistance managing their financial affairs.
Holding and managing property/investments for the benefit of younger individuals until they reach a certain age.
Holding and administering property for charitable purposes.
Providing for the continued administration of property after an individual passes away.
Administering an estate planning tool for married couples who want to reduce their federal estate and state inheritance tax exposure. 

Estate Planning 
Our trust services can help you accomplish the three major objectives of estate planning:

  1. Administering property as you want it managed during your lifetime.
  2. Reducing your estate tax exposure.
  3. Making sure your wishes are carried out after your death.

Many people have a will which states how their property will be managed and administered after their death, unfortunately, provisions for the proper administration of property during the remainder of their lifetime is often neglected. Estate planning is valuable protection for you and your family, because in the event of an illness or death, your property will be managed as you choose.

Retirement Plans 
Whether you're a wage earner, self-employed or the head of your own company, our trust team can develop a retirement plan for you.  

Farm Management 
Agriculture is a competitive, highly complex industry. The management of your operation may require more time and attention than you're able to give. While acting as a trustee of your farm, our professionals can manage your operation with a program individually tailored to maximize profits, while improving productivity. Our farm management team has experience with nearly every imaginable farm management situation. They have been exposed to all aspects of farming ... from accounting to tenant relationships to weed control. They know what problems to anticipate and are familiar with the best solutions.  

Agency and Fiduciary Arrangements 
A variety of written agreements can be established to assist in record keeping and asset management. Agency and fiduciary agreements allow the Trust Department to manage an individual's personal and financial affairs. Conservatorships are similar agreements set up through the courts. With the Primebank acting as agent, your securities are safekept; all income and principal is collected when due; and "buy and sell" orders are executed on your behalf. Timely reports will be issued to you showing the activity in your account. 

Trust Services
  Executor of estates 
  Trustee of trusts created by wills
  Trustee of trusts created by agreement while alive
  Life insurance trusts
  Conservatorships
  Agent for portfolio management 
  Farm management
  Escrow agent
  Burial trusts 

Definitions 
Trust a written arrangement in which a trustee manages property for the benefit of an individual or organization. 
Trustee the party responsible for administering the trust. 
Trustor the creator of the trust. 
Revocable Trust can be changed at any time. 
Irrevocable Trust cannot be modified in any way; all title to assets are in the name of the trust, which will be passed on to future generations, as designated. 
Living Trust effective during the trustor's lifetime; usually revocable. 
Testamentary Trust established via the will of a deceased person, ensuring property will be administered in accordance with his or her wishes. 
Charitable Trusts/Foundations created for the benefit of charitable organizations.

 

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