Trust and Investments
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.
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.
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.
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 A DEPOSIT
- NOT FDIC-INSURED
- NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
- NOT GUARANTEED BY THE BANK
- MAY GO DOWN IN VALUE
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