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Special needs call for special solutions. Many personal financial objectives extend well beyond those that investment services cover. A trust can be a special tool that lets us help you with goals such as:
- Financing your children’s or grandchildren’s education
- Supporting an elderly relative
- Making charitable bequests
- Saving on estate taxes
- Managing your assets if you are disabled
- Providing investment management for your family after your death
A trust is a custom legal arrangement you create so we – as trustee – can hold and manage the property you place in the trust. We care for the property strictly for your benefit and/or the benefit of another person or persons you choose – the beneficiaries. And we follow your guidelines on how to manage the property. You can have your trust take effect during your lifetime – a living trust – or under a provision in your Will – a testamentary trust. A living trust can continue after your death if that is your choice when you establish your trust. This can allow uninterrupted assets management and financial protection for your family. Such a trust need not mean losing control over your assets, because you can set it up with the option to amend or end it at any time.
How effective and helpful a trust is relates directly to the trustee’s performance. Our experience in managing trusts is both long and varied. We are skilled in administering all types of trusts. We will provide professional asset management, knowledgeable tax preparation, and thorough administration for any trust you decide upon.
Our duties as trustee include:
- Investing the trust assets
- Distributing income and/or principal to the beneficiaries
- Making tax decisions for the trust and filing the trust’s income-tax returns
- Keeping records of all transactions
- Preparing statements of account
- Assisting your beneficiaries with advice on day-to-day financial matters, explanations of the trust’s operation, and answers to their questions