A corporate trustee is a bank trust department or trust company. A trust is a legal document that allows you to plan your estate and to control your assets, to plan for the possibility of physical or mental incapacity, and to dispose of your assets at death. When you establish a trust, you will need to name someone, called a trustee, to manage the assets your trust controls. While you may choose yourself or just about any other adult, there are good reasons why you should consider a corporate trustee.
A living or revocable trust will allow you to participate in the management of your assets during your lifetime and determine how they will be distributed upon death. If you become incapacitated, your assets will be managed for you by our trust department. At death, your trust assets will avoid probate and be distributed according to your wishes.
A thoughtfully designed charitable trust can provide financial protection for you or your family members, while supporting your favorite charity. With a charitable trust, you may reserve the right to receive income during your lifetime with the charity receiving the residue upon your death.
Trust assets are safe even if the bank should fail. By law, trust assets must be kept separate. They cannot be loaned out or comingled with other bank assets.You are protected against fraud, theft, or any error made in the administration of your trust by regulatory oversight provided by internal, state, and federal examiners.
A corporate trustee is not for everyone, but it is something everyone should consider. If your trust is fairly simple, you may feel comfortable being your own trustee and having a capable family member step in when you can no longer manage your assets. If your estate is substantial, has a variety of assets, and includes tax planning, or if you doubt your relatives' capabilities or intentions, definitely consider a corporate trustee.
A trust account with Oregon Pacific Bank will protect and preserve your assets and your peace of mind. Our local professionals use an individualized approach in tailoring trust investments to suit your needs. We manage our relationships with integrity and in complete confidence. As our client, you and your family will benefit from objective, unbiased advice on important financial issues, as well as sensitive family matters. Every situation is unique. Here are just some of the reasons for establishing a trust:
Providing for a family member who may not be able to manage their own affairs
Transferring ownership of a family business
Minimizing income and estate taxes
Establishing gifting programs, guardianships, or family foundations
Leaving behind charitable donations
Oregon Pacific Bank as Your Corporate TrusteeAppointing Oregon Pacific Bank as corporate trustee, co-trustee, or agent ensures reliable trust administration. If you become incapacitated, your assets will be managed for your benefit. In the event of your death, your trust assets will avoid probate and will be distributed according to your wishes.As your corporate trustee, it is our responsibility to:
Understand your needs and the needs of your family
Take custody of trust assets
Protect and preserve trust property according to your wishes
Review and reinvest trust investments as needed
Provide for dependents and make payments to beneficiaries
Contribute to charitable causes as outlined in the trust agreement
Oregon Pacific Bank's Trust and Wealth Management department offers products that are not FDIC insured, are not guaranteed by the Bank, and are subject to loss of principal.