Trust Services and Estate Planning
When it’s time to think about your estate or setting up future generations for success, trust services and estate planning are vital tools to foster and safeguard your legacy and ensure it is managed in accordance with your vision. It’s a myth that these services are only for the wealthy—everyone can benefit from trusts and estate planning. Community National Bank & Trust is committed to providing an array of services to impartially administer your well thought plans and promote family harmony.
We are here to act as trustee, co-trustee, successor trustee, conservator, and executor for many types of trusts and wills.
An arrangement in which a trustee (i.e. Community National Bank & Trust’s Trust Department) manages property for the benefit of an individual or organization (the trustor). Trusts can be set up for businesses, organizations, or individuals. A revocable trust is a trust whose terms and provisions can be changed at any time by the grantor of the trust.
Unlike a revocable trust, an irrevocable trust can’t be changed or terminated by the grantor. The funds or assets in an irrevocable trust are titled in the name of the trust.
Testamentary trusts are vital in estate planning and the distribution of a deceased person’s assets. Testamentary trusts arise after the death of the grantor as specified in their will, ensuring assets will be administered in accordance with their wishes.
Specifically used for the benefit of charitable organizations, a charitable trust is a type of irrevocable trust.
Irrevocable Life Insurance Trust
An irrevocable life insurance trust purchases a life insurance policy on the grantor. This form of trust keeps the proceeds out of the insured's estate and provides provisions to manage and distribute funds upon the death of the insured, ensuring maximum benefit for his/her heirs.
Agency and Custody Agreements
Whether your trust or estate plan is personal or corporate, it can be difficult to navigate the necessary record keeping and stay on top of asset custody. Community National Bank & Trust can act as your agent, either managing assets and paying bills on your behalf or on the behalf of another personal representative. This includes:
- Special Needs
- Personal Representative
- Endowments & Foundations
Medallion Signature Guarantee Service
A Medallion Signature Guarantee verifies the identity, authenticity of a signature, and legal authority of an individual transferring securities. Community National Bank & Trust is pleased to provide this service to the communities we serve.
Trust Office Locations
Plan Your Estate or Trust with Community National Bank & Trust
No matter how big or small your estate or trust, achieving your unique financial goals is possible with thoughtful planning and professional, personalized support from a bank that’s in your corner. Contact Community National Bank & Trust today to get started.
*Trust products offered through Community National Bank & Trust are not FDIC insured, not bank guaranteed, may lose value, are not deposits, not insured by any federal government agency, not a condition to any banking service or activity. Are Not a Condition to Any Banking Service or Activity.