When considering the transfer of your wealth, it is essential to collaborate with a team of professionals to develop a comprehensive plan for allocating your assets when the time comes. By working closely with your attorney, we can help ensure that your goals and wishes are effectively incorporated into estate planning documents tailored to your family’s unique needs. While family members can be named as trustees, they may lack the necessary knowledge, experience, or time to fulfill all trustee responsibilities. The ideal trustee is one with experience, integrity, and transparency—someone who takes the time to listen and fully understand your family’s circumstances.
A trust is a legal arrangement many people use to keep their financial matters private, manage important assets and avoid probate court at death. A Trust allows the creator to transfer ownership of specified property and financial assets into a separate legal entity to be managed by a trustee for the benefit of the beneficiary(ies), which may include themself and or others depending on the type of trust.
A trust establishes a plan to protect hard earned assets and to provide thoughtful direction for how these assets should be managed and allocated for the benefit of the client and family both before and after death.
The legal responsibilities of a trustee are complex and significant. A trustee is held to a fiduciary standard. The fiduciary standard is the highest standard and requires the trustee to act solely in the best interests of the trust and its beneficiaries. Some of the items a trustee is required to perform are an annual reporting to all beneficiaries, filing an annual trust tax return, managing all assets, and making appropriate distributions to beneficiaries. Trustees assume the following duties and responsibilities as soon as they begin the administration and management of the trust:
Our trust officers are readily available to provide expert guidance on optimizing your established trust, helping you make informed and beneficial decisions regarding your assets.
Heartland Trust Company, is a corporate trustee who has been caring for families since 1990. We are qualified to serve in a fiduciary capacity as trustee, agent for trustee, or co-trustee.
Different trusts require different types of knowledge, expertise and understanding. We have comprehensive experience with:
By naming Heartland Trust Company as your corporate or co-trustee, you can take the burden off your family and have peace of mind knowing that your assets will be managed responsibly and your loved ones will be provided for.
The Trust Administration and Management services we offer to our clients include:
Connect with Heartland Trust today to secure your financial future.