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Testamentary Trust

A testamentary trust is established in a person’s last will and testament and does not become effective until their death. There is no standard to their design, and they can be structured to provide many benefits and protection to the beneficiaries. Some of the design strategies can include:

  • Flexibility to assist one or more of a group of beneficiaries when there is a financial need.
  • Protection of assets from creditors, divorce settlements, second marriages and spendthrift beneficiaries.
  • Supplements to public entitlements.
  • Reduction of income and estate taxes.
  • Preservation of assets for future generations and/or beneficiaries.

Investment Products are:

  • Not Insured by the FDIC or Any Federal Government Agency
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested