Planning for Life Events

Life is full of surprises, making it difficult to plan for the future. However, there are many events that you can expect, regardless of the surprises that come up along the way. These events include…

 


College and Education Expenses

Coverdell Education Savings Accounts (CESA) and 529 Plans are both great ways to save for the cost of higher education. We offer both plans and can help you set up an account to plan for this important life event.


Retirement

Retirement can be the most relaxing and enjoyable time of one’s life, or it can be a financial struggle. Planning, and saving, for retirement is a vital part of making this time of life enjoyable. We provide a variety of options from very basic to more complex, all of which can be funded with the investments listed above. Some retirement plan options are…

  • Individual Retirement Accounts or IRA’s: Traditional and Roth
  • SEP IRA and SIMPLE IRA accounts for small businesses
  • 403(b)(7) or TSA as well as 457 accounts for governmental entities
  • 401(k) plans and other more complex plans for businesses of all sizes

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Health and Long Term Care

Health care and nursing home expenses can devastate an individual or families savings. This is why we consider planning for this eventuality a part of wealth management. Some options to help plan for these life events include…

  • Health Savings Accounts or HSAs
    an account that allows you to save money Pre-tax or as a tax deductible expense and take qualified distributions tax free for an extensive list of events.
  • Long Term Care Insurance
    We offer this coverage through a variety of insurance Companies.
  • Agency accounts
    This type of account allows the client to direct our Investment and Trust Services Department to act as “Agent” for the benefit of the client. The client can delegate the paying of bills, management of assets and other such activities that the client no longer wishes to be burdened with.

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Trust and Estate Planning

This can be a very complex process, as such we strongly recommend that our clients work with competent legal counsel in developing a sound estate plan. We work closely with our client’s estate planning attorneys to do everything possible to prepare for and carry out each client’s goals for their beneficiaries whether they are family members, friends or charities. This is a primary service of our Department. We have the tools and experience to provide our clients with the service the deserve and the peace of mind knowing their final directives will be followed.

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Other Life Planning Strategies and Business Services…

Third Party Escrow Accounts are accounts for which we are the holding agent or paying agent in escrow contracts between the buyer and seller. We handle the paper work and the IRS reporting that is required.

As Executor of Your Estate you can name the Trust Department as executor in you will. You will ease the burden of the responsibility from others for whom it may be a hardship for them to perform this task. The Trust Department can be relied upon to be there when needed to handle all the details.

A Guardian and/or Conservator Account is an account through a court appointed process which would allow us to act on your behalf in case of your incapacitation.

An Attorney-in-Fact Account is an account through a power of attorney which would allow us to act on your behalf in case of your absence or incapacitation.

Our Corporate Bond Department serves as the registrar, paying, and transferring agent for local bond issues to help our community. These include local business, city, county, and school district bond issues.

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