Personal Trust Services

Investment Agency – Allows a client to hold various investments such as stocks, bonds, certificates of deposit, as well as land and other investments which can be managed by the Trust Department.  Services can be tailored to meet the client’s specific goals and service requirements. 

Revocable Living Trusts – Can be established to manage assets during your active life, during your incapacitation and after your death.  Our department provides professional administration of the trust assets, relieving the person establishing the trust of the burden of management details. 

Other Types of Trusts – Charitable trusts, insurance trusts, land trusts, conservatorships and minor’s trusts can also be administered by the trust department.  These are specialized documents drafted by the client’s attorney which would direct the Trust Department’s administrative duties. 

Executor or Administrator – The Trust Department can be named as the Personal Representative of an estate.  Our administrative knowledge and ability to work with attorneys and accountants can provide professional and impartial settlement of estates.

Testamentary Trusts – Created upon the death of the trustor to carry out their wishes after death. 

Retirement Services

Individual Retirement Account (IRA) – A convenient method of saving for retirement years.  Individuals with wages or self employment income may contribute to a Traditional and/or ROTH IRA.  Our Trust Department administers trusteed IRAs which provide the flexibility of investing in stocks, bonds, mutual funds or any investments allowed under IRA regulations, including real estate and precious metals. 

Simplified Employee Pension (SEP) –  Allows an employer to contribute for their own retirement and that of their employees through an Individual Retirement Account (IRA).

Prototype Profit Sharing Plans – Can be adopted by an employer as a sole proprietor, partnership or corporation.  These plans can cover one employee or many.    A prototype profit sharing plan is one which has already received approval from the Internal Revenue Service.  First United Bank, as the master plan sponsor, maintains and provides updates for new laws, amendments and plan restatements. 

Customized Plans – Employers may have their attorney develop a customized plan to meet their specific needs.  The Trust Department can serve as trustee and assist the employer in administering the provisions of the plan. 

Back To Top
Close Menu