Trust Management

Trust, Estate, and Farm Management Services

At BankIowa, we understand that your wealth represents more than just numbers. It's the culmination of hard work, sacrifice, and a dedication to building a bright future for yourself and loved ones. That's why we offer comprehensive Trust and Estate Planning services, designed to secure your legacy and ensure your wishes are carried out with compassion and expertise.

Whether you're just starting to think about the future or have already begun planning, our dedicated team of specialists can guide you through every step. We'll work closely with you to understand your unique needs and goals, whether it's minimizing taxes, ensuring seamless asset distribution, or providing care for loved ones with special needs.

Access Your Trust Account

Our service portfolio includes:

Irrevocable Life Insurance Trust

An Irrevocable Life Insurance Trust is an estate planning account used to make gifts that will remain in a trust until the Grantor's death and possibly thereafter. These are typically funded with life insurance policies, but occasionally they are funded with cash or marketable securities as well.

Testamentary Trust

A testamentary trust is one that is created as part of the provisions of your will to assure the long-term fulfillment of your wishes. Some of the common purposes of a testamentary trust are:

Continuing care for children and/or family members
Meeting major expenses
Preserving your estate assets

Revocable Living Trust

A Revocable Trust is an arrangement in which a person transfers ownership of property, to a trust account. The Bank holds and manages the property for the beneficiaries. A Revocable Living Trust gives you the freedom to control the terms of the account as changes in your life occur.

Special Needs Trust

When a disabled or special needs individual receives an inheritance, the government will require that the inheritance be depleted before it will pay for food, shelter, and medical care. This can quickly exhaust even a large inheritance. A Special Needs Trust can help you protect your loved one’s quality of life without endangering eligibility for government programs.

Charitable Trusts

By utilizing a charitable trust, an individual can achieve multiple benefits. Charitable trusts can be used as a supplement to your existing retirement plan, providing additional retirement benefits, while reducing or eliminating taxes. The most common Charitable Trusts used are a Charitable Remainder Trust and a Charitable Lead Trust.

A Charitable Remainder Trust allows you to make a contribution to charity while retaining an interest in the gift or transfer and receiving a charitable deduction for the assets ultimately passing to the charitable organization.

A Charitable Lead Trust is a trust that provides income for a set term, usually for the grantor's life, to one or more charities, with the remaining principal at the end of the term passing to one or more individuals, typically the grantor's children.

Conservatorship

A Conservatorship is often used to relieve other family members or friends from the burden of managing the beneficiary's assets. The bank can offer families the security of knowing that assets are being professionally managed in the ward's best interest. Estate Administration in your will, you may name BankIowa as executor, or personal representative. While serving as executor of your estate, we will work with your attorney to settle your financial affairs in a swift and orderly fashion.

Part of an executor's responsibilities include:

Collecting and valuing assets
Paying debts, expenses, and taxes
Distributing property according to the instructions of your will
The executor is responsible for managing the estate so that the interests of all beneficiaries are served.

Investment Management

Our Investment Management process begins with an assessment of your personal life goals, tolerance for risk, liquidity needs, and ultimate purpose for the funds. This information then allows us to customize the asset allocation that is most appropriate to meet your financial needs. In the construction of our investment portfolio’s we focus on broad diversification and exposure to multiple asset classes. This allows us to manage market risk and achieve the desired objectives which are identified in the initial step of the process.

1031 Exchanges

BankIowa will serve as a Qualified Intermediary to assist individuals in the exchange of “like-kind” properties. This allows one to defer capital gains tax on the sale of real estate.

Farm Management

Protecting the future of agriculture is essential to our daily life. That’s why the professionals at BankIowa are here to assist you with your farm management needs and help you achieve your ownership goals.

A professional farm manager can help you in numerous ways. Two of the many reasons for using a farm manager are:

You want to obtain the maximum rate of return on your farm, yet you don't have the expertise or perhaps the time to supervise the operation.
When a farm owner dies, the farm becomes an asset of the estate. It is vital that the farm is maintained and its value protected or even enhanced for the family during estate administration, as well as in the future.

To accomplish these goals, BankIowa can perform numerous services. Some of the typical services are: