The success of your plans will depend largely on how they are executed. Proper estate planning requires you to trust someone to carry on for you.
Do you have someone to carry out your future wishes? Our trust administration experts can help.
Trust Administration Services include:
Revocable Living Trusts
Irrevocable Trusts
Charitable Remainder Trusts
Grantor Retained Trusts
IRA and Roth IRA Management
Public or Private Foundation Management
Guardianship Management
Through Our Premium Trust Attention, We’ll:
Coordinate estimated tax payments working with your tax accountant or preparer
Process bills (unlimited) and medical claims
Facilitate caregiver services, including transportation
Manage your checkbook and any real estate held in trust
Arrange home repairs and capital improvements
Organize medical and prescription services
Make personal visits
Choosing the Right Trustee
Choosing a trustee for your trust is one of the most important decisions you will make. Englewood Bank & Trust provides professional trustee services and is an excellent choice to serve as trustee of your revocable or irrevocable trust or IRA.
The question is whether to choose a corporate or an individual trustee. There are significant responsibilities in being a trustee, and providing quality trustee services requires expertise and knowledge that individuals may not always possess.
When considering naming your trustee, consider some of the required responsibilities:
Taking possession and maintaining control of trust assets
Collecting amounts due and paying expenses
Maintaining clear and accurate accounts and records
Administering the trust in the interest of the beneficiaries
Valuing assets for tax, insurance, disposition, and capital gains reporting purposes
Arranging for payment of estate, inheritance, and income taxes
Monitoring trust or estate portfolio investments
Administering the trust according to the provisions in the trust documents
The job of being a trustee is demanding. It also carries a certain amount of liability if not done correctly and responsibly. If trustees act inappropriately they will be held liable for violations of applicable laws, non-compliance with terms of the trust, or failure to discharge any trustee duties or responsibilities. In fact, a Corporate trustee is held to an even higher standard than an inexperienced individual acting as a trustee.
For a free, comprehensive guide to the important task of choosing a trustee, please contact Kerry Hunter at 941-473-3629 or by email atkhunter@ebtfl.com.
