Through the years Prairie State Bank & Trust has always enjoyed helping individuals and families protect their assets. Listed below are some of the trust services offered:
Administrator or Executor
We can be named to administer your estate in a professional manner. As the administrator or executor we will administer the estate per the language and directions stated in the Will without any conflicts of interest. We will gather all assets, pay all necessary bills owed by the estate, work with the attorney of record, work with tax preparer regarding tax returns that need to be completed and prepare an accounting to be approved so that assets can be distributed and the estate can be closed.
The Court will issue Letters of Office naming the bank as guardian of the estate to administer the finances of a minor child or a disabled adult. We would be responsible for managing the investments, distributions made to the beneficiary, paying necessary bills and preparing an annual accounting for the Court to approve.
A trust is created by a living individual and the bank can be named as Trustee or Successor Trustee to handle the overall administration of the trust including investments, real estate management, payment of bills, disbursements, etc…
We can be named as Trustee when an individual wants to set-up a trust under their Will after they are deceased. The bank would handle the overall administration of the trust and work closely with the beneficiaries involved to make sure the trust is managed properly and in a professional manner.
A trust set-up to benefit a charitable organization and plays an important part in estate planning for several individuals.
An account can be set-up as an investment management account or can be set-up to help an individual with bill payment responsibilities.
Other services offered are Agent for Administrator or Executor, Self-Directed IRA’s, Land Trust, Irrevocable Life Insurance Trust and Farm Management Services…