Security National Bank has been helping families and organizations meet their financial goals for over 50 years. As a market leader, Security National Bank has the size and ability to meet your trust and estate planning needs. There are many different types of trusts available to you, as well as many advantages of establishing a trust. 

 

Security National Bank offers service in many areas, including: 

 

Common Trusts and Their Uses  

 

Given the flexibility and widespread customization in the drafting of trusts, it?s fair to say that no two of them are exactly alike. Still, trusts can be categorized by their main functions and characteristics.  

 

Here are few of the types of trusts that may interest you. 

 

QTIP Trust  

A special form of the marital trust, the Qualified Terminable Interest Property (QTIP) trust, in which the beneficiaries at the trust?s termination may be established at the inception of the trust. 

 

Bypass Trust  

A bypass trust may utilize available tax credits to protect the family fortune. The bypass trust can provide income to the surviving spouse.  

Charitable Trust  

A charity may have an income or remainder interest in a trust; income, gift and estate tax advantages accrue to such trusts. 

 

Gifts-to-Minors Trust  

A good way to set aside funds for the future benefit of a young child or grandchild. To limit gift taxes, the trust may be funded by installments, taking full advantage of annual gift-tax exclusions. 

 

Dynasty Trust  

The dynasty trust takes advantage of the $1 million exemption from the generation-skipping transfer tax. Dynasty trusts are generally intended to last for several generations. 

 

Trust Advantages 

 

The major benefits of creating a trust are as follows: 

 

Investment Management 

With a living trust, you can benefit from our investment supervision. When we develop and maintain an investment program for you, our main concern as trustee is to meet your requirements and protect your financial assets. 

 

Tax Saving 

A bypass trust may utilize available tax credits to protect the family fortune. The bypass trust can provide income to the surviving spouse. 

 

Convenience  

We handle all details of buying and selling. We keep records and submit comprehensive reports to you. 

 

Future Self-Protection  

You can authorize us to act on your behalf if ever you should become incapacitated. Using the broad authority, we would be able not only to provide full investment management, but also to draw on the trust fund for your benefit?to pay household bills and taxes, for instance. 

 

Continuity with a Living Trust  

A living trust may serve the same purpose as a trust you might otherwise establish by will, avoiding some of the delays associated with probate. By contrast, a trust created by will may not become fully functional until estate assets have been identified and assembled and various legal and tax requirements have been completed. 

 

Privacy  

A person?s Will, can remain private during his or her lifetime but necessarily becomes a matter of public record when probated. A living trust is less likely to attract public attention. The trust is established by private agreement and generally its terms remain confidential, helping to shield the family from unwanted publicity. 

 

Estate settlement savings of a Living Trust  

Since the trust may not undergo the proceedings associated with probate, the overall expenses associated with estate settlement may be reduced. 

 

 

For more information, contact the Wealth Management Division at  

(712) 277-6586 or (800) 475-4468