Trusts and trust services are not crucial or even appropriate for everyone. But for others, they are imperative and sometimes the only way to direct the outcomes you desire in certain situations. For a sound estate plan, you need to gather information from your team of professionals (accountants, attorneys, and investment advisors) to make sure your plan can withstand any storm that may come your way. At First Federal, we have the experience and expertise to help you coordinate your team for a customized solution.
Is a trust right for me?
The following questions can help determine if you should seek more information on trust services.
- What if my beneficiaries spend through their inheritance because they don't know how to manage money? How do I know anything will be left for the grandchildren?
- What will happen to the estate tax exemption in the next couple of years? Will a lot of my estate end up being paid to the federal government?
- How can the transfer of my assets be private and avoid the potential costs and delays of probate when I die?
- What if the time comes that I become sick or unable to manage my finances and I have no children or relatives who live close to me to handle my affairs?
- When my parents pass away, how will we manage the estate because they have assets all over the place, including different states?
- If I have several children, what will happen when I name only one as trustee for my trust and the others have to be bound by their sibling's decisions? I'm afraid that could cause a lot of family turmoil and that's the last thing I want to do.
- How do I or another family member become aware of, comply with and stay up to speed with all the state laws required to serve as a trustee?
- Because we travel a lot, how can we be sure all of our bills get paid in a timely manner and that our assets are managed appropriately?
How can we help?
- Investment Management (Institutional & Independent)
- Trust investments
- Individual investments
- Corporate investments
- Non-Profit investments
- Foundation and Endowment investments
- Public Entity Investment Management
- Fixed income portfolio design and management
- Accountability for performance
- Adherence to investment policy statement
- Adherence to Ohio Revised Code and other applicable state laws
- Auditor friendly reporting and support
- IRA Investment and 401(k) Rollover Accounts
- Trustee Administration Services
- Current trustee
- Recordkeeping and Tax Reporting
- Distribution Management
- Bill Payment including real estate taxes and income tax estimated payments
- Adherence to Ohio Trust Code and other applicable state laws
- Build strong teamwork channels with client's legal counsel, accounting and tax professionals, trust advisors and protectors, business managers, grantors and beneficiaries
- Successor trustee
- Trustee for special needs trusts
- Custody Services
- Safekeeping of investments and other assets
- Recordkeeping services
- Prompt crediting of dividends and interest