Personal Living Trusts & Testamentary Trusts Personal Living Trusts The revocable living trust is currently the most popular form of trust arrangement. There are many advantages with this type of trust. First, living trusts avoid the lengthy and expensive procedures involved in probating a will. The trust in many respects takes the place of a will. Property, held in the trust, is distributed to your beneficiaries according to your wishes; and because the trust holds the title to the property, it is not subject to probate. Other advantages of a revocable living trust vary according to your personal needs. The trust may continue uninterrupted after your death for the benefit of your surviving spouse or other beneficiaries. The trust may pay expenses for you: such as, retirement home fees, insurance, taxes or other expenses while you spend the winter months in a warmer climate. One additional advantage is that some trusts, if properly structured, can provide tax savings. Serving as trustee is our business, and our fees are reasonable and competitive. We would like to be your trustee. You're invited to come in and discuss our services without charge or obligation. TESTAMENTARY TRUSTS The testamentary trust is created under your will and does not take effect until your death. These trusts can be created for a variety of reasons, one of which, is to provide for your surviving spouse and other beneficiaries, eliminating the need for guardianships when minor beneficiaries are involved. Financial management by the trustee stays in effect until the beneficiaries reach the age when principal will be distributed to them. We would like the opportunity to explain our many services or work with your professional advisors to develop a tailor-made plan just for you. Call now for an appointment with a trust officer, without charge or obligation.