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Trust
Services
Fairfield National Bank’s many years of experience in delivering trust services can help you to evaluate alternatives, and make the decision with which you will feel most comfortable. Whether you need full investment management, estate planning and settlement, or custodial services, the Fairfield National Bank Trust Department can provide you with the knowledge, experience, and commitment it takes to get the job done. |
| Retirement Planning | |
| We offer
flexible retirement plans for corporations, partnerships, and sole
proprietorships. This program provides a cost-effective way to build
retirement savings for owners and employees. The Trust Department
serves as administrator of 401K retirement plans, profit sharing
retirement plans, SEP-IRA plans, and Simple-IRA plans. The
department also serves as custodian for Self-Directed IRA plans. |
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| Testamentary Trust | |
| A
testamentary trust is established by an individual’s will, usually
for the benefit of a surviving spouse, family member, or charitable
organization. A testamentary trust provides professional investment
management and may be designed to save estate tax. |
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| Revocable Living Trust | |
| A revocable
living trust is flexible, and can be a problem-solver by providing
management of your financial affairs should you become disabled,
consolidation of your financial assets and tax reporting, complete or
partial investment management and the private distribution of the
principal at your death. In addition, a revocable living trust may
be designed to save estate tax. |
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| Charitable Trusts and Foundations | |
| FNB’s Trust
Department can manage investments or land for the benefit of a
charity that you may provide for by gift or by your will. The funds
or land will be managed and the income will be disbursed per the
trust agreement. |
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| Investment Management Agency | |
| This
may be
designed to be a custody account, or to provide complete investment
management. It also provides consolidation of financial assets and tax
reporting and allows for the payment of bills. At the death of the
grantor, the principal is distributed to the grantor’s estate. |
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| Farm Trusts | |
| FNB’s Trust
Department can manage farmland for beneficiaries, absentee owners,
and farmland left for the benefit of a charitable foundation. We
take care of all the business needs associated with managing a farm.
The farm is managed by us and all income is disbursed per the trust
or agency agreement. |
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| Land Trusts | |
| Land trusts
can be a cost-effective resource to real estate owners who wish to
have the benefits of a trust while retaining all of the rights and
use of their property. A land trust provides many benefits,
including privacy, ease of property conveyance, the transfer of
beneficial interest and the avoidance of probate. |
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| Estate Settlement & Planning | |
| You may
appoint Fairfield National Bank as executor of your will. When
appointed, we will collect all assets of your estate, pay bills and
expenses, file necessary tax forms and distribute the balance as
directed by your will. |
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| Funeral Escrows | |
| FNB’s Trust Department also provides its services as custodian for funeral escrows made with area funeral homes. | |
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