Estate Planning and Trust Services

If you own assets, the answer is “Absolutely”. Each state has its own rules of intestacy (dying without a will) that dictates how your assets will be distributed at your death. It very well may agree with how you would want your assets distributed but, then again, it may not. For example, intestacy rules in several states share your assets between your surviving spouse and your children.

For those who are private about their financial affairs, it may come as a surprise that the estate settlement process is a matter of public record.

With a trust, you can not only draw on our broad investment capabilities, but also arrange to have us perform any number of special services, now or in the future. These personalized services could range from making payments of estimated taxes while you’re traveling abroad to providing full personal financial management in the event you suffer an incapacitating illness.

Also, you can name one or more beneficiaries to receive the assets of your trust at your death. These distributions avoid probate. Or, you can have your trust continue beyond your lifetime, serving as a source of continuing income and support for your spouse, a child or others whom you designate.

No. To put us to work as your trustee, you take two steps. You deliver the money and/or securities that you wish to place in trust. And you give us your written instructions in the form of a trust agreement. The agreement, drawn up by your attorney, is signed by you (as creator of the trust) and by us (as trustee). That’s all there is to it.

Depending upon the type of trust you decide to open, certainly. Usually our trust clients keep control in three ways:

First, the trust agreement specifies that they can make withdrawals (or additions) at any time.

Second, trust agreements may be drafted in such a way that they may be cancelled or revoked by the client. These are known as revocable trusts.

Third, they reserve the right to give us new or different instructions by amending the trust agreement.

Many of our clients choose trust arrangements because of the unique advantages they offer. But no, you’re not

required to create a trust. If you prefer, you can put us to work on a less formal basis. All it takes is a simple letter of instructions, designating us to act as your investment agent.

No. Our fees are competitive with those charged by investment advisory firms (for services that may not include custodianship of securities, record keeping and other conveniences or by mutual funds).

If you think of millions of dollars when you hear the word “trust,” you’re the victim of a widespread misconception. Today’s trust institutions have developed ways to handle even relatively small trusts efficiently. In any case, we don’t think in terms of fixed minimums. Instead we ask ourselves, “Is a trust the way to meet this person’s financial management needs?”

Look for experience first — a trusted individual or an impartial financial organization, such as Community Bank, N.A., who, as trustee of a variety of trusts, has handled every type of market for diverse sorts of families. You’ll want such experience brought to bear in providing financial security for you and your family.

Your trustee should have financial strength as well as professional investment capabilities. The trustee should participate in financial markets every day, and trusteeship must be treated as a full-time job. That describes us perfectly.

That’s easy. Our trust and investment professionals will be glad to assemble further information for you, analyze your investment requirements and answer questions not covered here. Please call on us.