July 1, 2025
A trust arrangement offers comprehensive protection that can last as long as it is needed.
You create the trust now. The trust agreement is revocable, meaning that you can make changes to it at any time, even canceling the agreement if you see fit. Initially, the agreement may call for you to be consulted before investment decisions are implemented with regard to the assets placed in the trust.
Our responsibility as trustee includes everyday investment chores—we buy and sell as you instruct us, collect dividends and interest income for you, and maintain accurate records of all transactions. We’ll also keep you posted regarding important deadlines that affect your holdings.
When and if you become incapacitated, or upon your request, we will spring into action by taking over the full management of your assets, acting as you have directed in the agreement. In addition to handling your investments, our responsibility may be extremely wide-ranging. You may authorize us to use trust income to employ house- hold help, hire nurses, and even pay your monthly bills.
The trust can be integrated into your overall estate planning as well. You can make provision for assets that have not been placed in trust during your lifetime to pour over into the trust at your death. You can fashion an agreement that allows you to distribute your assets as you wish at your death, taking tax considerations into account.
For more information
As the table below shows, the living trust is not a panacea, it doesn’t solve every financial or investment problem. Still, a trust can be the cornerstone for successful financial and estate planning. If you are a single senior, or if you know one, please make an appointment to meet with one of our officers to learn more about this important service.
