Peoples Bank and Trust Co. offers trust services, including serving as trustee on most types of trust.
Trust department personnel are available to assist individuals, business owners, and organizations with estate planning, business continuation, and cash (asset) management. We provide personal, professional service for all your financial needs.
Personal Representative of Decedent’s Estate
You can name Peoples Bank to serve as the personal representative of your estate. In serving in that role, the bank will provide the following services:
- Secure and protect your assets
- Establish values and prepare an inventory of assets
- Collect and invest the income due from your assets
- Prepare a final tax return, estate income tax, and estate tax return on behalf of the decedent
- Analyze and oversee the investment portfolio of the decedent to ensure protection of the assets
- File claims for insurance due the estate
- Make distributions from the estate to beneficiaries in accordance with your will
- Close the estate and promptly transfer assets to the beneficiaries
- Maintain all estate records in storage for future reference
Trustee Under Testamentary and Living Trusts
You can also name Peoples Bank to serve as trustee for any trust created by you, either during your lifetime or upon your death, by direction of your will. This includes revocable, irrevocable, and life insurance trusts. In serving as trustee, the bank will provide the following services:
- Long term investment and management of assets
- Safekeeping of securities
- Collection of dividends, interest and other income
- Preparation and maintenance of records of all transactions, with semi-annual Account Summaries of all activities and semi-annual Investment Summaries listing all assets in the trust, their market and cost values, and estimated income from each asset
- Execution of securities transactions through a broker of your choice
- Exercise of proxies, subscriptions to rights, exchanges, splits and conversions, privileges, and care for stocks, dividends, and called or matured items
- Quarterly remittances of income to beneficiaries or reinvestment as provided by the trust instrument
- Summary and classification of taxable income to each beneficiary for income tax purposes following the end of each tax year
Please call or stop by the main bank to obtain a fee schedule for all these services, or to discuss your individual situation and needs.