Trusts have important advantages during your lifetime and can serve as an effective means of managing your estate and providing for those you care about after your death. A trust can be established as an independent tax-paying entity, offering tax benefits and continuous asset management. A living trust with Fowler State Bank provides the following benefits:
Flexibility and control: During your lifetime, you may remove assets at any time, amend the terms of the trust, transfer assets, or terminate the trust at your discretion.
Centralized asset and income management: Assets are collected and income is disbursed from a single account.
Complete recordkeeping: Simplifies the preparation of tax returns.
Continuity of financial management: Ensures uninterrupted management in the event of illness or incapacity.
Probate avoidance: Assets held in the trust avoid probate upon death, helping to reduce costs and maintain the confidentiality of financial affairs.
Potential estate tax savings: May provide significant estate tax savings while ensuring for a surviving spouse and family.
Professional investment management: Provides ongoing oversights and management of trust assets
Uninterrupted bill payment: Bills continue to be paid without interruption.
Tax return preparation and filing: Federal and state tax returns are prepared and filed.
For more information, please contact the Fowler State Bank Trust Department at (765) 884-1200 or (800) 439-3951.
Fowler State Bank can act as your agent for your investment account or bill-paying account. An agency account provides you with the following services:
Professional investment management
Individual investment program tailored to meet customer objectives
Complete accounting and record keeping for tax purposes
Payment of bills while away on business or personal trips
Convenience
Safekeeping of securities
For more information, please contact the Fowler State Bank Trust Department at (765) 884-1200 or (800) 439-3951.
As personal representative of your estate, the Fowler State Bank Trust Department will carry out the provisions of your Will. In serving as your estate representative, we will provide the following services:
Collect, protect, and inventory all assets
Contact, inform, and answer beneficiaries’ questions
Settle Claims and pay obligations
Manage assets until distribution
Prepare for the transfer or sale of personal and real property
File the decedent’s final federal and state tax returns and file the Federal Estate and State Inheritance Tax as required
Report all activities to the Court
Make final distributions
For more information, please contact the Fowler State Bank Trust Department at (765) 884-1200 or (800) 439-3951.
All too frequently in life, minor children find themselves in need of a guardian. In other instances, adults who are seriously ill or have become increasingly incapacitated require the same source of assistance. In serving as a guardian, we will provide the following services:
Collect, protect, and manage assets
Settle Claims and pay obligations
Report all activities to the Court
File all income tax returns
For more information, please contact the Fowler State Bank Trust Department at (765) 884-1200 or (800) 439-3951.
The Coverdell Education Savings Account is a non-deductible account that features tax-free withdrawals for a child's education expenses.
Minimum opening deposit of $100.
Contributions are made with after tax dollars.
There can be more than one contributor per account, including individuals, corporations, and tax-exempt organizations.
Earnings grow tax-free when used for qualified education expenses, including private elementary and secondary schooling, as well as higher education through a vocational school, college or university.
For more information, please contact the Fowler State Bank Trust Department at (765) 884-1200 or (800) 439-3951.
