Testamentary Trustee

The will that names us as executor often provides for the long-term management of funds in Trust, a Testamentary Trust. Today’s Testamentary Trust is created with the needs of your immediate family in mind, featuring flexible provisions for their full-time support and protection and quite often, significant tax savings.

As trustee, we keep the trust principal safely and productively invested, and pay income as directed to named beneficiaries. Usually, to afford maximum family protection against unforeseen needs and contingencies, trust provisions direct us to exercise our judgment to pay the trust principal to beneficiaries whenever income alone is insufficient.

Trusts can save taxes by avoiding successive estate taxation of the same property as it is transferred from one family member to another. A husband’s will, for example, may create one or more trusts that will pass untaxed in the estates of his wife and perhaps his children. And such trusts may also lighten the income tax load on a family by shifting the receipt of income to those in lower tax brackets.

The long-range management of invested funds presents a real challenge for today’s trustee. Our experienced trust investment staff brings a professional outlook and mature judgment to the selection of investments best suited to the objectives of a trust and to the financial needs of its beneficiaries.