| PERSONAL TRUST SERVICES
Choosing a trustee is an important and individual decision. Borel Private Bank & Trust Company works to gain your trust by teaming you with experts who listen closely, provide sound advice, and deliver trust services with an uncompromising emphasis on responsiveness and personal service.
A Tradition of Trust
Borel Private Bank & Trust Company has been building relationships with clients since 1980. Everyday we work to gain the trust of our clients by delivering the highest level of personal service and confidentiality.
As specialists in the planning and management of trusts, Borel Private Bank & Trust Company ensures your wealth is managed and distributed according to yoru wishes. By appointing the Bank as your trustee, you can be confident your financial affairs will be managed objectively, professionally, and expertly.
The Benefits of a Trust
Establishing a trust protects your assets and guarantees your objectives are properly implemented during your life and after death. Benefits include:
Asset Protection
• With a living trust, experts will manage your assets during your life, even if you are unable to do so.
• After your death, your trust dictates how, when, and under what circumstances your assets are distributed - and how they are used. By establishing a trust for young children, you can avoid legal guardianship, which may be required if a minor directly inherits assets at your death. Similarly, a trust can avoid conservatorships for elderly clients.
Privacy
• Trusts shield your finances from public view, as they are private, confidential arrangements that are not subject to public scrutiny.
Avoiding Probate Costs and Delays
• Assets placed in a trust bypass the probate process, thus sparing beneficiaries' legal and/or executor fees.
• A trust can also ensure funds will be available for your benficiaries' living expenses while the estate is being settled.
Tax Savings
• Estate tax poses a serious threat for anyone planning to transfer wealth to the next generation. With a properly designed estate plan, a credit shelter trust can help you reduce estate tax for your heirs.
• Trusts may also allow you to reduce your current income tax liability.
Peace of Mind
• Clients and beneficiaries are protected from disreputable vendors and/or parties intent on disrupting trust administration.
• Trust Officers provide guidance regarding financial decisions and assist clients with referrals to appropriate advisors and caregivers.
• By choosing an institution rather than an individual, you will get reliable ongoing service. In keeping with state and federal regulations, Borel Private Bank & Trust Company is examined and audited regularly.
Living Trusts
What are the advantages and features of a Living Trust?
• A Living Trust has many invaluable advantages and features, including serving as a partial substitute for your will.
• Unlike a will, the assets in trust are not subject to probate or public record and scrutiny.
• In addition, you can amend or terminate most Living Trusts at any time, as well as possibly achieving major long-range savings in death taxes since time and money savings are often a result of the fact that no trust assets pass through probate.
• Real estate can be managed in a Living Trust.
Irrevocable Trusts
We can act as Trustee, Co-Trustee, Successor Trustee or Investment Agent of an irrevocable trust, and according to the terms of the document:
• Invest and reinvest assets
• Manage real property
• Make distributions of income and principal
• Collect income and pay bills
• Terminate the trust and distribute the remaining assets
Testamentary Trust What is a Testamentary Trust?
A Testamentary Trust is one written into and created by your will. Depending on its terms, your trust can often result in substantial death tax savings. After your probate is settled, Borel Private Bank & Trust Company manages the assets as trustee and assumes complete responsibility for carrying out your long-term objectives.
According to your specifications, we:
• Make investment decisions
• Collect income and pay it to your beneficiaries, or pay bills
• Terminate the trust and distribute the remaining principal to your heirs
What Borel Can Do For You
As trustee of your trust, Borel provides the following services:
Administration Services
• Account administration by experienced Trust Officers
• Securities and assets are held in the name of the trust, in nominee name, or in vault safekeeping under full audit control
• Dividends, interest, rents, and other income is collected, deposited and/or invested in accordance with the trust terms
• Income and principal distribution
• Bills and tax payment
• Complete records of all financial information and activity for tax preparation
Investment Services
• Consultation to establish investment parameters such as needs, objectives, risk tolerance, and tax status
• Continuous investment and portfolio reviews by experienced Investment Officers
• Execution of securities sales and purchases through outside brokers at competitive rates
Consultative/Discretionary Services
• Assistance with purchases, investments, and lifestyle decisions
• Protection from disreputable vendors
• Insulation from hostile or disruptive relatives and associates
• Referrals to appropriate advisors and caregivers
• Financial guidance to client's beneficiaries
For more information, please contact Carolyn Nichols.
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