An arrangement in which a trustee (for example Community National Bank & Trust Department) manages property for the benefit of an individual or organization (the trustor)
- Revocable Trust: Can be changed at any time.
- Irrevocable Trust: Cannot be modified in any way; all title to assets are in the name of the trust, which will be passed on to future generations, as designated.
- Testamentary Trust: Established via the will of a deceased person, ensuring property will be administered in accordance with his or her wishes.
- Charitable Trust: Created for the benefit of charitable organizations.
- Irrevocable Life Insurance Trust: A trust that purchases a life insurance policy of the donor, which keeps the proceed's out of the grantor's estate and allows funds to provide the maximum benefit for their heirs.
- Provide assistance to individual's investments, record keeping and paying bills.
Financial programs designed to invest for retirement with customized combination of investment management and administrative services
- Indivdual Retirement Accounts (IRA's): offering tax advantages and competitive investment returns
- Rollover IRA: Tax-deferred retirement plan distributions
- Simple Employee Pension IRA: A profit sharing plan designed to benefit self employed individuals and Business Owners
- Business Programs: retirement plans for small business owners and their employees, including;
- Corporate Profit-Sharing
- 401-k Plans
- Regular Pensions
Agency and Custody Agreements:
A variety of agreements can be established to assist in record keeping, asset management, and custody of assets. Types of accounts range from personal to corporate. Also, includes conservatorships
- Agent for the Individual: asset management for the individual that may want to name an advisor or direct their own assets
- Agent of Personal Representative: safekeeping and account management under the instructions of the personal representative of an estate
- Custody: asset safekeeping for the company that requires asset monitoring and posting of dividends, interest, maturities and corporate actions
- Endowments and Foundations: asset management and safekeeping with an appointed investment advisor of their choosing
Investing, managing, and administering a client's property to maximize its income and growth potential for the benefit of future generations.
- All of our trust products can be used selectively to help accomplish your estate planning goals
For more information, contact Trust Services at either our Iola or Winfield Banking Center. 866-201-BANK (2265) for Iola and 620-221-1400 for Winfield. email@example.com.