Trust and Estates
Beyond the financial, legal and tax considerations related to wealth management and the inevitable transfer of your assets, planning for the future often involves deeply personal issues. At The Mechanics Bank, we view the human aspect of trust services as equally important to our knowledge and expertise, honed by more than four decades of experience administering trusts for individuals, corporations and nonprofit organizations.
Nominating The Mechanics Bank as trustee or executor
Individuals often initially consider nominating a friend or family member to serve as trustee or executor. After reviewing the many duties and liabilities that apply to fiduciaries, however, many people decide to nominate a professional trustee or executor rather than take on these challenging responsibilities in addition to their own personal and professional obligations.
Among their responsibilities, fiduciaries must understand and follow the terms of any governing documents. They must identify and take steps to protect trust property. They have an absolute duty of loyalty concerning estate administration and must always take steps to avoid conflicts of interest. Fiduciaries must act fairly and impartially towards beneficiaries and maintain adequate records to provide them with periodic reports.
By selecting The Mechanics Bank to be your trustee or executor, or to act as co-trustee or co-executor with someone else you name, you can feel confident that your assets are receiving prudent management in compliance with applicable laws and regulations, and that your guiding instructions are being carefully and fully followed.
Acting as agent for your trustee or executor
After a grantor's death, trust documents are typically irrevocable. Individuals who find themselves nominated as fiduciary, and who wish to serve but desire assistance, may retain The Mechanics Bank to act as agent. As a professional fiduciary, we are held to the highest standard of care in this capacity.
The Mechanics Bank can typically serve as trustee or agent for:
- Inter vivos (living) trusts
- Post-death administration and estate settlement
- Marital and family trusts
- Testamentary trusts
- Qualified domestic trusts (QDTs)
- Charitable remainder trusts (CRTs)
- Grantor retained annuity trusts (GRATs)
A trust may hold assets other than investment securities or cash. We can also help you preserve and enhance your wealth through our ability to hold and/or manage non-financial assets — for example, real estate and closely-held assets, such as corporations and limited partnerships.
A personal invitation to explore our capabilities
To learn more about how we may serve your trust and estate needs, please contact us at 800-781-3441.
|