Trust Department Services
Farmers Bank & Trust offers a comprehensive program of trust and asset management services. Our professional staff brings legal and accounting expertise together with years of experience. We take pride in the level of personal, individualized service provided to our clients. Some of the types of services we offer are set forth below.
These accounts ensure orderly distribution of assets as outlined in your Will. You may name anyone as beneficiary. This Trust provides for long-term management of estate assets and may provide estate-tax advantages.
Revocable Living Trust
This type of account provides you with control of your assets during your lifetime and allows for execution of your instructions upon your death. You also avoid costs and delays associated with the probate process. Your assets are protected if you become ill or incapacitated. Investment management and administrative services are provided.
Irrevocable Life Insurance Trust
An irrevocable life insurance trust is a trust that is set up for the purpose of owning a life insurance policy. Upon the death of the insured, the Trustee invests the insurance proceeds and administers the trust for your beneficiaries. Proper ownership of life insurance is important if the insurance proceeds are to escape federal Estate taxation.
Our trust department performs all required duties to settle an individualís Estate. Services include arranging for probate; collecting, inventorying, valuing and protecting assets; managing assets; paying estate taxes, expenses, and debts; preparation and filing of tax returns; and distribution of estate assets to beneficiaries. Most importantly, we follow instructions outlined in your Will.
Investment Management Agency
Another service provided by our trust department is a discretionary investment management account. You retain title to all assets in your account while we provide professional investment management. Investment management is provided based on a disciplined strategy with a custom asset allocation program in order to meet the clientís risk tolerance as well as investment objective.
Custodial and Agency Accounts
Our custodial and agency services provide a full range of services to save you time while allowing you to retain complete management control of your portfolio. We provide recordkeeping and safekeeping services of all types of assets; collect investment income, disburse or reinvest income as directed. We also provide periodic accounting statements listing details of all transactions; and supply the information needed to prepare your income tax return.
Our professional staff can assist any need to escrow balances pending settlement or distribution. FB&T can act as intermediary in facilitating a 1031-exchange or reverse 1031-exchange.
Guardianship/Conservatorship/Special Needs Trusts
In some situations, a court may appoint a guardian, conservator or trustee for a child or when an adult is unable to manage financial affairs. We have in-depth experience in managing guardianships and conservatorships and we are committed to offering the personal service needed for these special situations.
Individual Retirement Accounts
Traditional IRAs and ROTH IRAs are available in either a self-directed or managed capacity to meet retirement goals. A self-directed IRA allows you to direct the investment of your account into any permissible investment while a managed account gives our team the investment responsibility to meet your financial objective. We provide services to those who wish to open an IRA account, or to consolidate or rollover their tax-deferred retirement assets into an IRA.
Corporate Trust Services
Our corporate trust capabilities include: Corporate Trustee, Paying Agent, Registrar and Transfer Agent, and Refunding Escrow Agent. We provide full transfer processing, tax reporting, holder reporting, principal and interest payment, and bond call processing.
As a member of Promontory Interfinancial Network, LLC, we can act as your agent by investing in CDs with other FDIC-insured banks within FDIC limts, but affording clients the ability to place multi-million dollar balances at varying rates and terms. Best of all, you receive only one statement and only have contact from one financial institution, FB&T.
For more information, please call 870-235-7040 or
Visit us in the Trust & Asset Management Building
at 217 East Union Street, Magnolia, AR