Trust & Investment Management

Estate/Fiduciary Services

Estate Administration

As personal representative (PR) of your estate, we are able to handle multiple and simultaneous duties including: marshaling assets and personal property, qualifying debts and claims against the estate, tax filing and payment, as well as distribution of your estate in accordance with your will.

The duties performed by the PR require a considerable amount of time and skill in order to be executed properly. Therefore, you may wish to appoint our Trust Department as your PR instead of or in addition to your spouse, children or a close friend, so your family can focus on their own well-being. As trained, experienced, and fully qualified personal representatives, we are pleased to discuss with you, your attorney or any other advisors, the advantages of naming us as PR under your will.

Living Trusts

Living trusts are created for as many reasons as there are individuals with diverse objectives and requirements. The living trust is designed to provide care and security to the living and provides a post-mortem estate plan and schedule to meet the wishes of the grantor. In so doing, tax savings may be derived, families are provided for, wealth is preserved and uncertainty is avoided.

Continuity of management and asset security are also considerations of the grantors – especially during periods of extended absence or illness. Living trusts provide the answers to many family situations involving the handicapped and disabled.

Testamentary Trust

Testamentary trusts provide estate planning and financial management on a post-mortem basis. In this respect, they are similar to living trusts but do not provide the protection and security during life, which a living trust provides. A testamentary trust typically is drafted in the last will and provides benefits to family and beneficiaries subsequent to the death of the grantor.

Guardianship of Property

The Trust Department at First National Bank of South Miami acts as corporate guardian of the property. In this capacity, we act in the best interests of the ward in the management of the ward’s assets.

Special Needs Trust

The bank acts as trustee in trusts created to preserve eligibility for certain government benefits, as well as providing support for the individual with disabilities.

Please have a Wealth Strategist Officer contact me.

Certain investments and/or products offered by the Trust Department are not insured by the FDIC, are not a deposit or other obligations of, or guaranteed by, the First National Bank of South Miami. These products and/or investments are subject to investment risks, including the possible loss of the principal amount invested.