You may have First Banking Center administer your trust in a trustee, co-trustee, successor trustee, or investment manager capacity. This will assure you that your assets will be managed during your lifetime and for the benefit of your beneficiaries thereafter in a professional manner. Your estate plan will be sheltered through the various trust vehicles that First Banking Center offers.

Revocable Living Trust
By utilizing a Revocable Living Trust with First Banking Center, you can transfer property to a trustee for the benefit of one or more beneficiaries. One of the greatest benefits of a Revocable Living Trust is that it maintains privacy of your estate after your death, unlike a will. With this trust, you will specify how your assets are to be managed and operated during your lifetime. Your estate will then avoid the probate process. You can change the terms or revoke the agreement at anytime. You can even choose to serve as trustee of your assets, naming First Banking Center as your successor in the event of your incapacity, death, or resignation. Alternatively, you can elect First Banking Center as your trustee and/or investment manager immediately.

Irrevocable Living Trust
You may decide to use an Irrevocable Living Trust to remove assets from your taxable estate. With this trust, you can never alter the terms or revoke the trust once it is established; however, you can continue to control the way your property is distributed to your heirs. Common uses of Irrevocable Trusts are to support an incapacitated family member, to establish an education fund for children or grandchildren, or to fund a charitable or life insurance trust.

Charitable Remainder Trust
You may decide to use a Charitable Remainder Trust for its significant income and estate tax savings. This is a very valuable tool with assets that have appreciated in value that would be subject to capital gains tax when sold. By utilizing a charitable trust, you may be able to reduce your income tax, eliminate capital gains tax, and lower your estate taxes. To establish this type of trust, you make a charitable gift, but receive the income from the asset during your lifetime. After death or the end of the trust's term, the assets will pass to the charities named. When the charity sells the asset, no capital gains tax is owed, since the tax rate of the charity is zero. You can change the charitable beneficiary during your lifetime.

Charitable Lead Trust
The Charitable Lead Trust will provide significant income and estate tax savings. You will find this a valuable tool if you wish to support a charity with income derived from assets you currently do not need, but wish for your heirs to own eventually. The charity receives the income from the assets held in trust for a specified period of time as outlined in the trust document. After the term of the trust, the principal amount is paid to your remainder beneficiaries.

Testamentary Trust
The Testamentary Trust is created by the provisions in your will and becomes effective after your death. It can be designed to accomplish the long-term fulfillment of your intentions, such as providing for your spouse in a way he or she is accustomed to living. It can also be used to provide for your children as stipulated in the trust and/or to support your favorite charity. When the probate procedure is completed, your assets will be placed in the trust and your trustee will take over the management of the assets.

Irrevocable Life Insurance Trust
The Irrevocable Life Insurance Trust is a popular method of providing liquidity to pay your estate taxes. The Irrevocable Trust is named the owner and beneficiary of the life insurance policy, removing the proceeds from the estate of the insured and the insured's spouse. If you are a business owner, farmer or developer, this may be very helpful for maximizing your family's wealth.

Guardianship Account
If you have a minor child that has received significant assets, you may wish to name First Banking Center as guardian. This is commonly used when there is an inheritance or large proceeds from a lawsuit, or when an adult family member is unable to handle his/her financial affairs. You will be assured that your financial interests are served. First Banking Center will also provide the inventory and periodic accountings that are required by law and submit to probate court for review.