A living trust can help you protect your assets, simplify estate management, and provide peace of mind for you and your loved ones. Whether you are planning for the future, preparing for unexpected illness, or looking to avoid probate, a living trust offers flexibility and professional financial management.
When you establish a living trust with Fowler State Bank you may benefit from:
- Flexibility and control over your assets during your lifetime, including the ability to amend or terminate the trust if your needs change.
- Centralized management of assets and income through one account
- Detailed recordkeeping to help simplify tax preparation
- Continued financial management in the event of illness or incapacity
- Avoidance of probate of assets held within the trust, helping reduce costs and maintain privacy
- Investment management services
- Ongoing bill payment and account management without interruption
- Preparation and filing of applicable federal and state tax returns
For more information, please contact the Fowler State Bank Trust Department at (765) 884-1200 or (800) 439-3951.
An Agency Account allows you to maintain ownership and control of your assets while authorizing Fowler State Bank’s Trust Department to assist with managing your day-to-day financial responsibilities.
Agency Accounts can be especially helpful for individuals who need assistance keeping up with bills, managing payments, or maintaining organized financial records. Whether you need ongoing support or simply want the convenience and peace of mind of having someone you trust handle these responsibilities.
Agency Account services may include:
• Payment of household bills and other regular expenses
• Monitoring and organizing incoming bills and payments
• Maintaining accurate records of account activity
• Assistance with financial paperwork and recordkeeping
• Safekeeping of important financial documents
• Personalized account management based on your individual needs
An Agency Account can provide added convenience and peace of mind for you or a loved one while allowing you to retain ownership of your assets.
For more information, please contact the Fowler State Bank Trust Department at (765) 884-1200 or (800) 439-3951.
Serving as the personal representative of an estate involves many important responsibilities during a difficult time for families. The Fowler State Bank Trust Department can provide professional guidance and administration services to help ensure estate matters are handled efficiently, accurately, and according to the wishes outlined in the Will.
As personal representative of your estate, our Trust Department may provide the following services:
• Collecting, protecting, and inventorying estate assets
• Communicating with beneficiaries and answering questions throughout the process
• Settling claims and paying outstanding obligations
• Managing estate assets until final distribution
• Assisting with the transfer or sale of personal and real property
• Preparing and filing final federal and state tax returns, as well as applicable estate and inheritance tax filings
• Providing required reports and documentation to the Court
• Coordinating final distributions to beneficiaries
For more information, please contact the Fowler State Bank Trust Department at (765) 884-1200 or (800) 439-3951.
There are times when minor children or incapacitated adults may need assistance managing financial matters and protecting their assets. The Fowler State Bank Trust Department can serve as guardian or assist in a fiduciary capacity to help ensure financial responsibilities are handled with care, professionalism, and attention to the individual’s best interests.
As part of our guardianship services, we may provide:
• Collecting, protecting, and managing assets
• Paying expenses and settling financial obligations
• Maintaining accurate records and reporting activities to the Court as required
• Preparing and filing income tax returns
• Ongoing financial management designed to protect the individual’s assets and financial well-being
A Coverdell Education Savings Account is designed to help families save for a child’s future education expenses while enjoying potential tax advantages. Funds in a Coverdell ESA can be used for qualified educational expenses ranging from elementary and secondary school costs to college, university, and vocational education expenses.
Features of a Coverdell ESA include:
• Contributions made with after-tax dollars
• Tax-free earnings growth when funds are used for qualified education expenses
• Eligible expenses may include private elementary and secondary school tuition, as well as higher education expenses
• Multiple contributors allowed for a single account
• Contributions may be made by individuals, corporations, or tax-exempt organizations
• Minimum opening deposit of $100
A Coverdell ESA can be a valuable tool for families planning ahead for future educational opportunities.
For more information, please contact the Fowler State Bank Trust Department at (765) 884-1200 or (800) 439-3951.