Investment & Trust
Trust Services Overview
Trust and Estate Services / Farm Management
At BankIowa we offer a wide range of trust services. When you establish a trust, you are transferring property to someone who will manage your assets during your lifetime and for the benefit of your beneficiaries thereafter.
Contact BankIowa for all of your Trust and Estate needs at 319-334-7181. Let us help you manage the assets that you have worked so hard to build and accumulate. Our services allow individuals and their families to protect and grow these assets for generations to come.
Learn more about some of our trust services:
- Irrevocable Life Insurance Trust
- Testamentary Trust
- Revocable Living Trust
- Special Needs Trust
- Charitable Trusts
- Estate Administration
- Investment Management
- 1031 Exchanges
- Farm Management
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.
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.
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.
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.
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.
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.
Protecting the futures 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:
- Selections of tenant
- Record keeping
- Marketing of crop/livestock
- Preparation of crop/livestock plans
- Purchasing of seed, chemicals and fertilizer, etc.
- Soil conservation
- Lease negotiations
- Handling of funds
For more information about BankIowa Trust Services and Farm Management, contact your nearest BankIowa Office Location or one of the following BankIowa Trust Officers:
Wes Hilleshiem at 319-249-7082
Tricia Beatty at 319-334-7512
Non deposit investment products
- Not insured by the FDIC or any federal government agency
- Not guaranteed by the bank or any affiliate of BankIowa
- Not a deposit of the BankIowa or any affiliate of BankIowa
- May Lose value