As personal representative (PR) of your estate, we are able to simultaneously handle multiple duties including: marshaling assets, 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 talent 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 the 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 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 which involve the handicapped and disabled.
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 the living trust provides.
The 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 a Trust created to preserve eligibility for certain government benefits, as well as providing support for the individual with disabilities.
Please do not hesitate to call one of our Senior Wealth Strategists at 305.421.2270 or email us at firstname.lastname@example.org to arrange a no cost, no obligation estate planning or investment portfolio review.
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.