Trust Types

Trusts can provide lasting benefits to you and your loved ones. When set up properly, advantages of using a trust include greater control over your assets and tax planning, streamlined distribution of assets, protection of privacy and avoiding family disputes and confusion. Fidelity Bank Trust offers a complete menu of personal trust services including:

Revocable Trusts

  • Quicker, more efficient estate settlement
  • Options for disability planning
  • Useful for individuals whose goals include avoiding probate and maintaining privacy

Irrevocable Trusts

  • Protects inherited family wealth for financially inexperienced family members
  • Possible estate tax savings for surviving spouse
  • The bank acts as an impartial, professional trustee
  • Appropriate when you want to leave someone assets without the burden of management

Testamentary Trust (trust under will)

  • A type of trust that is contained in the will
  • Takes effect upon death of the grantor
  • Often used to distribute life insurance proceeds and other assets

Minority Trust

  • A trustee manages the financial assets or property until the child reaches the age you specify
  • The trustee follows your instructions to act in the beneficiary’s best interests

Generation Skipping Transfer Trust

  • A trust set up for the benefit of grandchildren
  • May be used to minimize estate taxes
  • May protect assets from creditors, divorce court or bankruptcy

Charitable Trusts

  • Created for charitable or philanthropic purposes
  • A scholarship fund or foundation can be established to carry on your legacy
  • Endowment funds professionally managed to enrich your community

Special Needs Trusts

  • Protects beneficiaries who have special needs
  • Access to assets for their use without losing eligibility for public assistance or government benefits

Directed Trustee Services

We do not provide legal or tax advice. Please consult your legal or tax advisor in regards to your own situation.

Financial products made available or recommended by Fidelity Bank that are not bank deposits are not insured by the FDIC; are not a deposit or other obligation of, or guaranteed by, Fidelity Bank; and are subject to investment risks, including possible loss of the principal amount invested.