A Living Trust is a trust that’s established during one’s lifetime. It may be structured in such a way that it is revocable, which means that you can change the terms or end the agreement whenever you wish. Under a typical Living Trust Agreement (which is drafted by an attorney) ownership of assets or property is transferred to the trust and is managed by the Trustee on behalf of one or more beneficiaries. A properly drafted Living Trust can function flexibly during life and minimize delays and expenses at death. Additionally, a married person’s revocable trust can reduce the combined estate of husband and wife in much the same way as trust provisions in a will.
With a Trust Under Will, you continue to provide financial security to those close to you after your death. Our Trust personnel, your legal advisor, and your tax advisor, can help you establish an estate plan to provide income and support for one or more beneficiaries, such as a spouse or minor child.
A Trust Under Will provides added reassurance that after your death your funds will be managed, invested and distributed in a manner which meets with your pre-established goals, and in a way that benefits your loved ones.
Investment products are (1)NOT FDIC insured, except for Exchange Bank issued Certificate of Deposit; (2) are not deposits or other obligations of Exchange Bank or guaranteed by Exchange Bank, and (3) involve investment risks, including possible loss of principal amount invested.
1Consult your tax advisor regarding potential tax savings and deductions