- Business Banking Services
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Preserving your wealth is of utmost importance — it’s the freedom that allows you to live life the way you want. That’s why it’s critical to your long-term financial prosperity to work with a team of experienced trust and estate administration professionals whose sole mission is to ensure the long-term vitality of your hard-earned wealth. We’ve been providing a broad range of trust and estate administration and investment services to high net worth individuals since 2001.
We work as a part of your team of advisers to help fully realize your estate, business succession, or legacy plans. Choosing a trustee is one of the most important decisions you can make when creating a trust. You benefit the most when your trustee has an earnest, dependable relationship with your family and can make investment decisions with your overall portfolio and long-term estate planning and financial objectives in mind.
The list of trustee responsibilities is long and intricate. Assuring financial security for your family requires a trustee who will capably and prudently deal with the investment and administrative complexities of your trust.
You can name First Business as a trustee or successor trustee in your estate planning documents. We are pleased to work with you and your attorney when such services are requested. If we serve as trustee, you can use our investment services through a simple investment management agreement.
Our personal investment, administrative, and advisory services include:
If you are currently making regular gifts to favorite charities, you may wish to continue to further the work of these organizations by including a charitable trust in your estate plan.
First Business can act as the corporate trustee on a wide variety of charitable trusts including:
• Charitable Remainder Trusts (CRATs/CRUTs)
• Charitable Lead Trusts (CLATs/CLUTs)
• Private Foundations
As trustee, First Business provides regular trust accounting to all interested parties, prepares the fiduciary tax returns, invests and re-balances the underlying investment portfolio, makes discretionary distributions, and provides income tax charitable deduction calculations as needed.
We would be pleased to work with your accountant and attorney to determine how First Business can best be of assistance in designing and administering a customized plan that maximizes the financial benefit to you, your family, and the charities you care most deeply about.
View attachment below for more information on Charitable Trusts
• Charitable Trusts
Comprehensive trust services for business owners ensure that your succession plans are realized.
We are uniquely positioned to act as trustee when family businesses are placed in trust to allow family ownership to continue. We can be a critical factor in the effective estate and succession plans of a business owner seeking to maximize the value of their business, minimize taxes, and preserve family harmony.
Please consider asking your attorney how a trust could be helpful to your family’s business succession planning and contact us for ways in which we may be able to help in complex or unusual situations.
View attachment below for more information on Trust Services for Business Owners
• Estate Planning For Business Owners
Whether your estate passes to your heirs by will under probate, or passes to your designated beneficiaries by means of a revocable trust, certain administrative tasks are unavoidable. Please see the attached for additional information about our estate settlement services.
First Business can help you with asset consolidation, accounting, determination of cost basis of estate assets, fiduciary tax returns, estate tax returns, payment of debts of the decedent, inventory preparation, beneficiary distributions, and other estate planning overview duties.