Estate Planning

Living Trusts
Living trusts are gaining popularity as people discover their flexibility and profitability. As the name implies the trust is set up while you are living.

During your lifetime the trust can be added to, depleted, amended, or revoked, providing the flexibility necessary in a changing world. The trust holds the assets transferred into it, (usually income producing assets such as stocks and bonds or cash available for investment) invests them, then provides for payouts or distributions according the your instructions.

Advantages of a living trust include: the avoidance of probate, professional investment management, the convenience of bill paying services or as a guardianship substitute.

Unlike a will, a trust does not go through the probate process. There is no public record. Your private affairs are kept private. A trust reduces estate costs and is less likely to be contested. Trust assets are immediately available to provide needed cash to your family at a difficult time. The lengthy process of opening the estate, obtaining court authority, and publishing the list of assets -- all required in a court-supervised probate administration -- are avoided.

As a professional trustee, National Bank & Trust provides experienced, objective investment management. We can keep track of your assets and, when appropriate, make recommendations advantageous to your situation. We can act as a personal financial planner, a consultant, or an estate planner while keeping your investment goals in mind. A living trust allows you to retain any degree of investment control you desire.

A trust can pay income to you or anyone you so choose. Monthly bills can be paid directly allowing you to be elsewhere. If retired, you would be free to travel. Plus, year-end, tax preparation is easier with the comprehensive tax summaries.

You enjoy peace of mind knowing your affairs are taken care of if you become incapacitated. As trustee, we can be authorized to step in and keep your financial affairs in good order as long as necessary. Upon death, a trust could continue to provide for your spouse and children (including stepchildren or children from an earlier marriage). Your trust agreement can provide for your family today and future generations.

People set up living trusts for many reasons: they win the lottery, receive an inheritance or a bonus; decide they have better things to do with their time; provide for a family member with special needs, or are an adult child acting as power of attorney for their parents.

You can customize your trust to meet your needs. A living trust allows you complete control over all the assets in your trust, while giving you the protection, confidentiality and expertise of a professional counselor and friend.

At your discretion, you can spend, save, invest, or even give away the assets. As trustee, the bank continues to manage your trust for you according to your instructions. We are in the business of managing trusts -- we are reliable, objective, government regulated, and experienced investment managers.

National Bank's Asset Management Group can provide convenience today and protection for tomorrow, making your financial life easier and more enjoyable. For more information, contact us today, or stop in to discuss the many advantages of a living trust. We look forward to hearing from you soon.

 

Insurance and investment products sold through NB&T Insurance Agency, Inc., the Asset Management Group and The Investment Center are not a deposit, not FDIC insured, not guaranteed by National Bank & Trust, not insured by any Federal Government Agency, May Lose Value.