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Trust Services

BUILD, PRESERVE, AND TRANSFER YOUR WEALTH

Whether you’re seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their power is in their versatility — many types of trusts exist, each designed for a specific purpose.

A trust is a flexible financial planning tool that holds, manages and distributes your assets according to your wishes. It can protect your finances now and provide for your family long after you are gone.

 

A TRUST CAN OFFER YOU PEACE OF MIND

PROTECTION

 

Assure your estate passed to the people you intend to inherit it.

EXPERIENCED PROFESSIONALS

 

Create a personalized trust to meet your specific needs.

TAX ADVANTAGES

 

Reduce or eliminate estate taxes.

AVOID PROBATE

 

Eliminate probate fees and delays in the distribution of assets.

ESTATE PLANNING KNOWLEDGE

 

Meet your philanthropic goals.

FINANCIALLY RESPONSIBLE

 

Manage your assets in the event of your incapacity.

 

If you would like to learn more about the benefit of a trust to avoid probate or discuss the allocation of your assets, schedule your free, no-obligation consultation today.  Your consultation can take place over the phone, via email, or in a nearby Citizens office – whatever is convenient for you.

 

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TRUST UNDER WILL

Set up through the provisions of your will and allow you to retain ownership and control over your property during your lifetime. You can change your will and the provisions of the trust as changes in your family’s circumstances require. Upon your death, your appointed trustee steps in to manage the assets for the benefit of your heirs.

LIVING TRUST

Similar to trusts under will, except that they begin to operate during your lifetime. To create a living trust, you transfer some of your assets or property to your trustee, who manages it for you and your loved ones. Upon death, the trust continues to operate for your beneficiaries, without any legal complications or delay. Living Trusts may be revocable or irrevocable. The former allows you to abolish the trust completely or change its provisions, to withdraw assets or direct their investment. The latter limits your benefits from, and control over the trust, but can reduce your current income tax, as well as estate tax.

LIFE INSURANCE TRUST

Funded by proceeds from your insurance which are paid directly to the trustee, who then manages the money for your heirs. Depending on the type of life insurance trust created, you may retain all rights to your insurance, such as the ability to borrow against your policies, to cash in or convert them, or to change your beneficiaries.

CUSTODY SERVICES

Provide assistance with consolidating your existing investments, record keeping, collecting income, and carrying out investment trades. A custody arrangement provides a statement with current asset values and a transaction history to ease the burden of record keeping.

AGENCY ACCOUNT SERVICES

Let you direct your financial affairs outlined by a governing document. We can protect your assets, provide investment management, collect income, pay bills, and have income tax returns prepared.

ESTATE SETTLEMENT SERVICES

Name Citizens Bank of West Virginia as the executor or co executor in your will, providing you with great peace of mind. In addition, our experienced staff knows and understands estate settlement procedures, has expertise in legal procedures and investment management. Probably the most important reason to have our Trust Department involved is to avoid disputes that can arise among family members when an individual is settling the estate. The bank acts as an intermediary and distributes the assets as instructed in the will.

CORPORATE AGENCY SERVICES

Offer a variety of fiduciary and agency products and services to public and private corporations, and government entities.

 

Investment and Insurance Products: are not insured by the FDIC or any other federal government agency, are not deposits of or guaranteed by a Bank and may lose value.