Our comprehensive Trust Division is locally staffed with professionals experienced in wealth management. Customers benefit from working with our specialized staff on a personal one-to-one basis.
Estate planning involves accumulating and preserving property during a lifetime and arranging for its beneficial transfer at death. Most estate planning is associated with advantageous investment and tax planning without sacrificing family security. We provide estate planning advice without charge.
The personal representative is an individual or financial institution named in a person’s last will and testament to carry out the wishes and property distribution of a deceased person. The administration of an estate involves collecting and preparing an inventory of a decedent’s assets, paying creditors’ claims, paying estate taxes, investing and managing the assets of the estate, accounting to the court for all financial transactions and the distribution of estate assets to those legally entitled to receive them.
Trust Under Will or Testamentary Trusts
These trusts are established by individuals to go into effect at death. Estate property not otherwise distributed passes to a court appointed trustee with special instructions as to the disposition of the trust’s assets. The trustee has the responsibility for the management of the assets received during the term of the trust.
An agent or custodian is a person or institution given authority by an individual to act in his or her place on certain legal or financial matters. Our Trust Division, as agent, will safekeep securities, collect interest or dividends and make investment changes at the customer’s direction. Customers are provided accounting statements of all transactions.
Revocable trusts can be started, amended or revoked during an individual’s lifetime. If the trust agreement so provides, the trust is a probate avoidance and may continue beyond the lifetime of the customer.
Revocable trusts can provide great diversity and options regarding estate planning, investment management and financial organization.
Irrevocable Life Insurance Trusts
The life insurance trust normally cannot be amended or revoked once established. The agreement designates a trustee as owner and beneficiary of the life insurance policy proceeds that fund the trust at the customer’s death. If certain conditions are met, trust assets pass to the trust beneficiaries without being included in the customer’s estate. Insurance proceeds are managed by our Trust Division in a similar way as revocable testamentary trusts.
Individual Retirement Accounts (IRAs) & Keogh Accounts
This service is for customers who prefer to direct their assets for retirement. This arrangement is like an agent or custodial relationship, appealing to the customer who is familiar with the stock market. Full-service investment advice is available, if preferred.
Pension and Profit Sharing Plans
We manage funds contributed by a company and its employee participants and assist the company with major elements of plan design, investment objectives, and the plan’s general administrative and record keeping functions.
Our plans include “daily valuation” and “balance forward” accounting as well as participant-directed investments.
Contact the Trust Division Directly
You may contact the Trust Division at 920-923-7000.
Log into your online Trust Portfolio
Securities are not insured by the FDIC, NCUA or any other financial institution insurance or government agency, are not deposits or obligations of the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal.
Banking services are provided by National Exchange Bank & Trust, Member FDIC.