Trustee Services
"Our long-time tax preparer recently mentioned that of all the forms he sees from various trust companies, he considers Covenant Trust Company's records to be the best for a number of reasons."
Luther M. Englund
Turlock, CA
Revocable Living Trusts
The revocable living trust is a financial planning tool that many people find helpful. It has advantages for both now and the future, including:
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Relief from the concerns of asset management
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Protection for you and your family in case you become disabled or incapacitated and can’t handle financial issues
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Security for your spouse after your death with continuing income and asset management if you desire
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Assurance that your family and charities you support will benefit from your legacy plan
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Peace of mind that your plans are in order
A revocable living trust is:
- revocable—you can revoke (cancel) it if you wish
- amendable—you can change its provisions
- living—it takes effect and benefits you during your lifetime
- flexible—it is written and managed to meet your personal needs and objectives
Establishing a trust is only the first step. If the trust is not fully funded and properly administered, it does not fulfill its role in your financial plans. Covenant Trust Company® provides professional trustee services and asset management for more than 700 revocable living trusts—it’s what we do. Our trained staff is there to help during the entire life of your revocable living trust—from inception through funding, investment and administration, all the way to final distribution.
Are you concerned about high trustee fees? Don’t be. Although any trustee is entitled to reasonable compensation and reimbursement of expenses, Covenant Trust Company does not normally charge a trustee fee during the grantor’s lifetime as long as one requirement is met: We require that the greater of $15,000 or 25% of the residue remaining in the trust after the death of the last surviving income beneficiary be designated for one or more Covenant ministries of your choice. [read more about possible costs associated with revocable living trusts]
Do you think a revocable living trust could be right for you? Do you have some specific questions? Contact your local Financial Services Representative to talk about it with no obligation. [view Directory]
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