Trust Types

Leave a lasting legacy

By creating a trust, you make sure your money makes a difference as time goes on. You can provide for the next generation, support a family member with special needs or contribute to a charity. 

Revocable Trusts

• Quicker, more efficient estate settlement
• Options for disability planning
• Useful for individuals whose goals include avoiding probate and maintaining privacy

Irrevocable Trusts

• Protects inherited family wealth for financially inexperienced family members
• Possible estate tax savings for surviving spouse
• The bank acts as an impartial, professional trustee
• Appropriate when you want to leave someone assets without the burden of management

Testamentary Trust (trust under will)

• A type of trust that is contained in the will
• Takes effect upon death of the grantor
• Often used to distribute life insurance proceeds and other assets

Minority Trust

• A trustee manages the financial assets or property until the child reaches the age you specify
• The trustee follows your instructions to act in the beneficiary’s best interests

Generation-Skipping Transfer Trust

• A trust set up for the benefit of grandchildren
• May be used to minimize estate taxes
• May protect assets from creditors, divorce court or bankruptcy

Charitable Trusts

• Created for charitable or philanthropic purposes
• A scholarship fund or foundation can be established to carry on your legacy
• Endowment funds professionally managed to enrich your community

Special Needs Trusts

• Protects beneficiaries who have special needs
• Access to assets for their use without losing eligibility for public assistance or government benefits

Directed Trustee Services

• Ease the burden for you and your family
• Choose a corporate trustee to handle Administrative Trustee Services