- Must I have a trust to use your services?
Many of our clients choose trust arrangements because of the unique advantages they offer. But the answer is no, you’re not required to create a trust. If you prefer, you can put us to work on a less formal basis. Simple give us a call to set up a time for us to sit down with you and discuss your needs.
- What are the advantages of a trust?
With a trust you can not only draw on our broad investment capabilities but also arrange to have us perform any number of special services, now or in the future.
Also, you can name one or more beneficiaries to receive the assets of your trust at your death. These distributions avoid probate. Or, you can have your trust continue beyond your lifetime, serving as a source of continuing income and support your spouse, a child, or others whom you designate.
- Is it difficult to set up a trust?
Not when you work with us. To put us to work creating your trust, you simply meet with one of our Trust Officers so they can gather the necessary information. We’ll put our legal department to work for you creating your trust agreement. It will be checked for accuracy before you sign it and make if official.
This type of trust is often called a Living Trust or Revocable Living Trust because the person who creates the trust reserves the right to make changes, cancel or revoke it.
- If I create a trust, can I keep control?
Usually our trust clients keep control in three ways:
First, the trust agreement specifies that they may make withdrawals, or additions, at any time.
Second, as just mentioned, they reserve the right to cancel the trust.
Third, they reserve the right to give us new or different instructions by amending the trust agreement.
- Is it expensive to create a trust?
No. our fees are competitive with those charged by other firms. We work on a flat fee basis so you will always know what any costs will be before you have any trust work done.
- Who should be the successor trustee of my trust?
Look for experience first. You can designate one of your children to be the successor trustee upon your passing or you can make use of our trustee services. Either way, you want to be certain you can trust whomever you choose to handle this important matter.
- How can I find out more about trusts?
That’s easy. Our trust and investment professionals will be glad to provide you with all the necessary information to answer your questions. Please give us a call at 1-800-279-9785.