Estate Planning with First National Bank and Trust Company - your valued partner in navigating all of life’s major events.
By embracing our fiduciary responsibility, our clients and their ongoing financial legacies are at the forefront of everything we do. The foundation of our investment philosophy is optimizing returns through managing risk. We do this by educating our clients about the risks within their financial plan and then implementing the best risk-based plan that fits their family. Our team is here to help, assuring that you and your family are well prepared for all stages: generation of wealth, retirement, incapacity, or death.
Do I need an attorney?
You technically do not need an attorney to set up your own estate plan. We say this from a technical standpoint, but we do advise you seek legal expertise. When it comes to drafting estate planning documents, English is very important. The use of “and”, “or” along with other terms can change the meaning of what you are trying to say. If you need assistance from an attorney, we can provide recommendations on who may be best for your specific needs.
How can First National Bank and Trust Company help me plan my estate?
First National Bank and Trust Company can help you talk through what your estate plan could look like, but as corporate fiduciaries we cannot draft these documents for you. Just like any good team, we partner with local experts to provide holistic services together for our clients. We can help review and give advice, but ultimately it will be an attorney who drafts and finalizes your estate planning documents.
When should I start estate planning?
It is never too early to start planning you estate. If you don’t have a plan, the state you live in does and you may not like it. While this is never a topic people want to discuss, it is much needed and important. We also advise you to update your plans with every big life event such as marriage, having kids, retirement, etc. You don’t need to wait until you are 80 years of age to establish your estate plan, and First National Bank and Trust will be with you to help get started.
Why should I have a corporate trustee?
Utilizing a corporate fiduciary to be the executor or trustee within your estate plan can be very beneficial. First, this role has a lot of experience and it is that person’s job to know how to handle certain situations around an estate or trust. Second, whether that person is in their role or not, the corporate fiduciary will have a backup in place to ensure the work is still done. Lastly, there is a separation from the family. This will allow more harmony within the family and allow any finger pointing to occur outside if there are issues that need mediated.
Do I need a Power of Attorney?
A power of attorney (POA) is a legal document in which the principal (you) designate another person (called the agent or attorney-in-fact) to act on your behalf to make all decisions, in specified matters or all matters.
Deciding where and how to start with this process can seem overwhelming if you’re not exactly sure why you should have one or how it works. We have outlined the top FAQ’s regarding power of attorney to help get you started.
Investment products offered by First National Bank and Trust Company are: Not a Deposit • Not FDIC Insured • Not Insured by any Federal Government Agency • Not Guaranteed by the Bank • May Go Down in Value.
Our team is here to help, assuring that you and your family are well prepared for all stages: generation of wealth, retirement, incapacity, or death. We are your valued partner in navigating all of life’s major events. Contact us at 844.487.3115 to schedule a 30-minute meeting to identify potential risks to your plans today.