Trust Services

Trust Under Agreement

A Trust Under Agreement is used as a means to keep a property owner’s affairs in proper order even in the event of incapacity, prolonged illness or death of the owner. If the owner desires to no longer direct the trust, Heritage BankTrust Services can serve as trustee or successor trustee.

Trust Under Will

A Trust Under Will is created when a grantor’s will stipulate that any portion of an estate is awarded to a trustee, to be managed for a beneficiary(ies). Heritage BankTrust Services can act as trustee for a Trust Under Will. This kind of trust does not become operative until after the death of the grantor.

Investment Management Agency

You may not have the time, facilities or specialized expertise to optimize returns on your investment portfolio. Under an Investment Management Agency Agreement, Heritage BankTrust Services can manage the administrative details. We will tailor investment portfolios to fit specific needs and objectives for individuals, businesses, and organizations.

Custodial Services

While custodians generally have no investment management or advisory duties; BOS, as custodian, will hold assets, facilitate trades, collect income, pay bills and provide periodic statements including tax information. We can also implement directives for individuals, businesses or organizations.

Guardianship

When a minor or disabled adult becomes entitled to a share in an estate, a “guardian” of the “ward” is appointed by the court. If Heritage Bankis named guardian, we will hold and manage the property, make regular accountings to the court, distribute funds for the benefit of the ward, and make the final settlement when necessary.

Trust and Estate Settlement

Professional death settlement services are needed when serving as a deceased’s executor, personal representative, or trustee. Heritage Bankcan serve as an executor or trustee, and carry out the duties necessary to finalize and distribute the trust and/or estate.

Irrevocable Life Insurance Trust

A life insurance trust owns insurance policies for you. Since you do not own the insurance policy when you pass away, generally the proceeds should not be included in your taxable estate. As trustee of your life insurance trust, Heritage Bankis responsible for ensuring the premiums are paid on the policy, notifying the beneficiary(ies) when deposits (gifts) are placed into the trust, and disbursing the proceeds as directed in the trust agreement.