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Trust Services
Information
Bill Paying Service
As the title indicates, this is a service for paying bills. The size of the
account corresponds to the bills to be paid. This is intended to free you from
the responsibility and concern of making those monthly payments in a timely
manner.
Custodial Service
A custodial service provides safekeeping, record keeping, and routine
maintenance. This account offers a means whereby individuals who wish to make
their own decisions about the purchase, sale, or retention of securities may
have someone else handle the routine maintenance for their investments. This may
include collection and distribution of income, payment of bills, and accurate
reporting of income tax information.
Investment Management
Service
This service offers all the benefits of the Custodial Service as well as
providing full time management for investments. You set the objectives and a
tailored portfolio is designed to meet those objectives. The investments are
monitored and recommendations are presented for changes, which you may retain
the right to approve or disapprove. Management means a continual review of the
investments to keep them compatible with the objectives and with the changing
market conditions.
Trust Services
A living trust has been described by some as a complete plan for the present and
the future. It may ensure a combination of benefits unavailable from virtually
any other plan of property management and distribution. A revocable living trust
is a private agreement between you and your designated trustee. It may be
established for varied reasons including tax benefits (especially Federal estate
tax), avoidance of guardianship proceedings, convenience for a surviving spouse,
management for a minor child or incapacitated child. Trust assets are not
subject to probate procedures and therefore are not included under the estate
settlement service described above. The revocable trust can be changed, altered,
or amended to suit your specific needs as your circumstances change. The trustee
may provide investment management, safekeeping, record keeping, bill payment,
and other services.
Guardian of the
Property of a Minor or Incapacitated Person
A corporate fiduciary may serve as the guardian of the property of an
individual, but may not serve as guardian of the person. As guardian of the
property, the duties include determining and securing the assets; determining
objectives for the investments to meet the ward’s needs and management of their
affairs in a prudent manner. There are various types of guardianships, all of
which must include an an appointment by the court and must follow the Florida
Statutes.
Individual Retirement
Accounts
A corporate fiduciary may provide varying degrees of investment management for
Individual Retirement Accounts. This may include investment recommendations,
following the owner’s investment directions, or simply a safekeeping agent.
Estate Settlement
When a Will designates a corporate fiduciary to serve as personal representative
of the estate, the Court confirms the appointment. The fiduciary then settles
the financial affairs of the deceased person and distributes the property as
directed by the Will. This procedure may involve many specific tasks.
The investments
mentioned are:
- NOT INSURED BY THE
FDIC
- NOT INSURED OR
GUARANTEED BY THE BANK
- SUBJECT TO LOSS OF
PRINCIPAL
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