Trusts
Caldwell Trust Company can serve in the fiduciary capacity of trustee, co-trustee, or successor trustee for many kinds of trust. Among the most common are:
- Living Revocable Trusts. You establish this type of trust during your lifetime and you can change or revoke it at any time. Such a trust can provide for asset managment and income production during your life and help avoid costly and burdensome probate of your estate upon your death.
- Testamentary Trusts. You make provisions for the establishment of this type of trust under the terms of your will. You specifiy how you want the trust structured and to what purposes it is to be administered. The trust then becomes effective upon your death.
- Charitable Trusts. When you establish this type of trust, you irrevocably place assets into it. You specify the charity(ies) who will benefit from those assets. Establishing such trusts can save you tax expenses. For more information on the types of charitable trusts that Caldwell can assist you with, click the "Charitable Planning" link on the left.
- Irrevocable Trusts. Once you set up an irrevocable trust, you cannot revoke it or change its terms. The provisions you make in your Living Revocable Trust become irrevocable upon your death.
Serving as trustee is neither easy nor simple. A trustee must be knowledgeable and accountable in a number of areas in including applicable state and federal law, investments and accounting. Individuals are often ill prepared to meet these demands. Performing in this capacity, we follow the terms of your trust in order to carry out its objectives through:
- Working with you to assess your needs and goals;
- Implementing and following the terms of your trust;
- Developing an investment strategy that meets your needs and those of your beneficiaries;
- Managing and investing trust assets;
- Paying bills and expenses;
- Taking care of your financial needs if you are incapacitated or absent;
- Meeting with beneficiaries to communicate your trusts provisions;
- Making distributions to beneficiaries from your trust in accordance with its terms.
Our most important service, however, is the personal attention you and your family and beneficiaries will receive from us. Whether you call on your Trust Officer or any other person in our organization, you will receive the personal attention that you deserve. We intend for every clent to feel valued as a individual, and assured that we have your interests at the center of every action we take on your behalf.
