Fairfield National Bank’s many years of experience in delivering trust services can help you to evaluate alternatives, and make the decision with which you will feel most comfortable. Whether you need full investment management, estate planning and settlement, or custodial services, the Fairfield National Bank Trust Department can provide you with the knowledge, experience, and commitment it takes to get the job done.
A testamentary trust is established by an individual’s will, usually for the benefit of a surviving spouse, family member, or charitable organization. A testamentary trust provides professional investment management and may be designed to save estate tax.
A revocable living trust is flexible, and can be a problem-solver by providing management of your financial affairs should you become disabled, consolidation of your financial assets and tax reporting, complete or partial investment management and the private distribution of the principal at your death. In addition, a revocable living trust may be designed to save estate tax.
FNB’s Trust Department can manage investments or land for the benefit of a charity that you may provide for by gift or by your will. The funds or land will be managed and the income will be disbursed per the trust agreement.
This may be designed to be a custody account, or to provide complete investment management. It also provides consolidation of financial assets and tax reporting and allows for the payment of bills. At the death of the grantor, the principal is distributed to the grantor’s estate.
FNB’s Trust Department can manage farmland for beneficiaries, absentee owners, and farmland left for the benefit of a charitable foundation. We take care of all the business needs associated with managing a farm. The farm is managed by us and all income is disbursed per the trust or agency agreement.
Land trusts can be a cost-effective resource to real estate owners who wish to have the benefits of a trust while retaining all of the rights and use of their property. A land trust provides many benefits, including privacy, ease of property conveyance, the transfer of beneficial interest and the avoidance of probate.
You may appoint Fairfield National Bank as executor of your will. When appointed, we will collect all assets of your estate, pay bills and expenses, file necessary tax forms and distribute the balance as directed by your will.
FNB’s Trust Department also provides its services as custodian for funeral escrows made with area funeral homes. Deposits are FDIC insured.
A Health Savings Account (HSA) is a type of personal savings account that helps those with qualified high-deductible health plans (HDHPs) save money on many out-of-pocket medical expenses like doctor visits, vision and dental care, and prescriptions. HSA accounts offer tax benefits including pretax contributions, tax free withdrawals, and tax free gains. Contact us for more information about health savings accounts. Deposits are FDIC insured.
The Trust Department serves as administrator of SEP-IRA plans and Simple-IRA plans. The department also serves as custodian for Self-Directed IRA plans.
We are here to help you realize your financial goals. Contact our team of experts today and let us discuss your financial planning needs. 618.842.2109