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Living Trust
Living trusts shelter assets, ease inheritance
A living trust allows you to consolidate your assets in one secure, convenient place. Your assets and investments are managed according to your goals, and the process of transferring those assets to your family after your death can be greatly simplified.
Extraco Trust works with you and your family to set up a trust, which can include real estate property, investments, a business or other holdings. The trust stipulates how the assets should be managed, as well as how, when and to whom the assets will be distributed. You have the freedom to change the terms of the trust at any time.
Extraco professionally manages your assets according to the terms of the trust. This allows you to unburden yourself of daily financial tasks — we take care of the details. And we can continue to manage your assets for you and your family should you become disabled, incapacitated, or die.
As trustee for your living trust, Extraco can:
- Collect and distribute income
- Pay bills
- Hold securities, such as stocks and bonds
- Provide accounting, such as reporting receipts and disbursements
- Provide and submit tax data and other compliance documents, even submit tax returns and pay taxes
Living trusts can also help protect your assets for your family upon your death. Trusts can provide shelter from estate taxes and keep financial affairs private by avoiding public probate proceedings. Trusts also reduce estate settlement costs, and assets left to family members in trust may be protected from lawsuits, creditors and divorce.
Living trusts provide many advantages that make them convenient for the present — and smart for the future.
For more information, contact an Extraco Relationship Manager by e-mail, or call 866-EXTRACO toll-free.
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