Planning tools that help manage and protect assets over time
Trusts are often used as part of long-term planning to help manage assets, provide direction, and support how property is handled during life and after death. Leaving a legacy and supporting a smooth transfer of assets from one generation to the next can often be accomplished outside of probate through a variety of trusts.
Trust services provide structure and administration to help ensure a trust is carried out as intended.
This may be helpful if you
Each trust serves a different purpose depending on goals, timing, and circumstances.
A revocable (living) trust allows assets to be managed during life and distributed after death according to your wishes. Because it can be changed or revoked, it offers flexibility as circumstances change.
Often used to: Maintain control during life while supporting privacy and avoiding probate.
An irrevocable trust transfers assets into a trust structure that generally cannot be changed once established. Assets placed in the trust are no longer owned directly, which can support long-term planning and offer tax advantages and asset protection depending on the situation.
Often used to: Support long-term planning, asset protection, and tax efficiency through the separation of ownership.
A charitable trust allows assets to be set aside to support charitable organizations while also fitting into a broader estate or legacy plan. These trusts are commonly used to integrate charitable giving with thoughtful tax planning and long-term goals.
Often used to: Support charitable giving while aligning legacy goals with tax advantages.
A life insurance trust is designed to hold and manage life insurance policies outside of direct ownership. This structure helps ensure proceeds are distributed according to specific instructions and can play an important role in estate and tax planning.
Often used to: Provide clear direction for life insurance benefits while supporting estate planning and tax savings.
A burial trust allows funds to be set aside specifically for funeral and burial expenses. By planning these costs in advance, a burial trust helps ensure arrangements are handled as intended and can help preserve assets for other estate needs.
Often used to: Preplan funeral expenses, protect designated funds, and ease the financial burden on loved ones.
Boone Bank & Trust Co. may be named to serve as trustee. This role involves administering the trust according to its terms, managing assets responsibly, and providing ongoing oversight.
Having a neutral trustee can help ensure consistency, accountability, and clear administration over time.
A conversation can help clarify options and next steps based on your goals and timing.
Non-deposit investment products are not insured by FDIC, not a deposit or other obligation of, or guaranteed by Boone Bank & Trust Co., and may be subject to investment risk, including possible loss of the principal amount invested.
Routing Number: 073901097
You are now leaving Boone Bank & Trust Co.'s website.
Boone Bank & Trust Co. is not responsible for the content or security of any linked sites and does not have control over the content or security of any linked site. We are also not responsible for any issues that may arise from the site or its privacy policy. The inclusion of a link does not imply or constitute an endorsement by Boone Bank & Trust, its owners or management, the products or services it offers, or any advertisers or sponsors appearing on the linked sites.
