Wealth Management

Investment Agent

As investment agent for an individual or company, First State Bank (FSB) safeguards, invests and advises clients on securities, generally stocks, bonds, mutual funds and cash. Securities trades may be pre-authorized or subject to the customer’s direction. FSB collects and distributes income, keeps detailed records, and provides clients with timely transaction and tax reporting. An investment agency account gives clients access to expert investment advice and performance measurement.

Revocable Living Trust

Living trusts take effect while the client is still living, hence, the name. First State Bank (FSB) serves as trustee or successor-trustee under an agreement with an individual. FSB manages and safeguards assets, advises on investments, collects and distributes income, pays household bills, keeps records and provides quarterly reporting. Living trusts can save people time, estate taxes, legal expenses and probate costs.

Many individuals find it overwhelming and time consuming to act as trustee for a relative or friend. Hiring a corporate trustee like FSB gives clients access to professional asset management and provides peace of mind knowing that your financial affairs are being handled by an experienced trustee.

In the event of disability or a prolonged illness, a successor-trustee is authorized to provide full personal financial management, eliminating the need for a court-appointed guardian or conservator.

Irrevocable Trust

First State Bank (FSB) serves as trustee or successor-trustee under an agreement with an individual. Generally, an irrevocable trust cannot be changed after it has been signed. Although giving up control of the assets to the trustee, the grantor can achieve significant tax advantages and delay the transfer of assets to their heirs. A properly drafted irrevocable trust will provide financial protection to loved ones for years to come.

Estate Administration

First State Bank (FSB) can be named in a will or be court appointed to act as the executor or administrator of an estate. Incapacity, death, or the need for professional investment advice are a few of the ways that FSB assumes its designated role. The executor or administrator’s responsibilities include collecting, safeguarding, investment and distributing assets, settling claims, paying income and possible estate taxes and accounting to the heirs.

Guardianships

A guardianship is a court appointed position for an individual who may be incapacitated due to mental incompetency or injury, and for individuals that are deemed minors under state law. First State Bank (FSB) is available to provide guardianship of assets. This service provides complete asset management for the protected person, working in the best interest of their current and future needs. FSB prepares an annual report of account activity for court approval.