We offer a wide variety of corporate and personal trust services in addition to investment and management services.

• Estates and Guardianships
• Pension and Profit Sharing Plans
• Personal Trust Services
• Corporate Trusts

The management and protection of property for the benefit of others is the theme of today's trust service and the task of today's Trust Department.

So far as recorded history is concerned, trust service, as a method of protecting property for the benefit of families, is a concept that goes back to the 13th century. However it was not until the 19th century that the right to exercise trust powers was first granted to a corporate organization. Men of wealth and wide experience were quick to understand the advantages offered through trust services. These trust services, particularly at the hands of banks and trust institutions, have been responsible for the savings of literally billions of dollars in the conservation of assets and in the reduction of taxes.

A trust always comprises at least three parties:

• The creator of the trust called the trustor or grantor
• The trustee
• The beneficiary

A trust is a transfer of the legal title of property to a trustee, while the beneficial interest belongs to the beneficiaries. The trustee has the duty of managing the property in the best interest of the beneficiaries, according to the specific provisions of the document creating it. That's a good theory; but how can you be sure your trustee will always put your beneficiaries' interest first? The only way is to pick a trustee you can really "trust", because that is exactly what a trustee is supposed to be.

The trust agreement, or the trust provisions in the will, set forth in detail the terms and conditions that govern the trust including the rights, duties and obligations of both the creator of the trust and the trustee. It describes the property that is being transferred to the trustee, instructs how investments are to be made, provides when the trust is to end, to whom income is to be paid and to whom the trust principal is to be finally distributed. The agreement may also state whether the trust can be altered, whether it is subject to being amended, or other relevant matters. In others words, the trust agreement can be just as flexible as you desire it to be.

Basically, trust service may be divided under two general headings: The testamentary trust, as established by a person's will and, therefore, not effective until death, and the living trust established for the grantor's benefit or the benefit of others.

The will that names us as executor often provides for the long-term management of funds in trust. A testamentary trust is almost always created with the needs of one's immediate family in mind. It features flexible trust provisions for their full-time support and protection. It can also be used as a basic estate planning tool offering significant tax savings.

As trustee, it is our task to keep the trust principal safely and productively invested and to pay income to the named beneficiaries. Usually, to afford maximum family protection against unforeseen needs and contingencies, trust provisions direct us to exercise our judgment to pay trust principal to the beneficiaries whenever income alone is insufficient.

Trusts can save taxes by avoiding successive estate taxation of the same property as it is transferred from one family member to another. A husband's will, for example, may create one or more trusts that will pass untaxed in the estates of his wife, his children and even his grandchildren. And such trusts may also lighten the income tax load on a family by shifting the receipt of income to those in lower tax brackets.

The long-range management of invested funds presents a real challenge for today's trustee. Our expanding economy dictates the need for informed investment decisions. The modern Trust Department is uniquely equipped to provide these decisions. Our experienced staff brings a professional outlook and mature group judgment to the selection of securities best fitted to the objectives of a trust and to the financial needs of its beneficiaries.

You can appoint a Trustee now to manage and invest part of your estate while you live and to continue to do so for your family when you die. This Living Trust has all the advantages of a Trust-Under-Will, plus some others. It can free you, whenever you choose, of the burdens of managing investments and keeping records. What a boon to retired people who wish to travel! They can enjoy life without having the worry about taking care of their property.

To set up a Living Trust, you transfer to the Trustee some or all of your property such as stocks, bonds, real estate or cash. During your lifetime, you can be the beneficiary if you wish. At your death, there is no "red tape" for your beneficiaries. The Living Trust goes right on without delay for your spouse; then at their death, it can pass automatically to your children.

Look what you can avoid-settlement delays, unnecessary probate fees, court procedures, and undesirable publicity (your Trust is confidential and need not be disclosed in public records.) Another plus-you see your Estate Plan in action during your life and can make changes as you wish.

This arrangement should be used if you want the right to revoke your Living Trust at any time, to withdraw assets, to direct and control investments and to change provisions and beneficiaries.

This is a form of Living Trust designed for special purposes, such as reducing taxes. Here, it is possible to cut down substantially your income taxes and to reduce the size of your taxable estate. However, you are restricted in the control you may exercise over your Trust; and if you are to save taxes, you cannot be a beneficiary yourself. While there are many advantages to Irrevocable Trusts, there may also be some disadvantages for you. Accordingly, you should carefully discuss the matter with your attorney before deciding.