Trust Services - Estate Planning
Our highly skilled, professional trust team can help you establish an effective estate plan that will accomplish your personal goals. Some may wonder why they need an estate plan. Consider the following:
Why Prepare an Estate Plan?
- Avoid or lower death taxes.
- Prepare a Will or Trust
- Direct distribution of assets upon death.
- Nominate personal representative (executor) or trustee to administer your will or trust.
- Direct how death taxes will be paid and how last debts and expenses will be paid.
- Nominate guardian and conservator for minor children or those with disabilities.
- Without an estate plan, your state will dictate the administration and distribution of your estate.
- Provide and Care for Oneself
- Financially
- Trust
- Durable power of attorney
- Effective upon signing or upon incapacitation
- May authorize gifting to reduce or eliminate death taxes
- Nominate Conservator for property
- Health Care
- Durable power of attorney for health care and living will
- Nominate guardian for personal care
- Provide for Others (spouse, children, etc.)
- Preserve Family Harmony
- Example: Without a will or trust, who will administer the estate? What assets will be used to pay estate and inheritance taxes and last debts and expenses? Will the family farm or business have to be sold and the proceeds divided, or will the heirs become owners of the property?
- Special considerations need to be given to second marriage situations.
Non Deposit Investments Available Through Pioneer Bank & Trust Are Not FDIC Insured, Are Not Deposits, Obligations or Guaranteed by Pioneer Bank & Trust, Are Subject to Investment Risk Including Possible Loss of Principal
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