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What Is a Trust?

A trust is a customized legal document, which you create so that HomeStar Bank, as your trustee, can hold title to and manage both the real property and personal property you place in the trust.

As trustee, HomeStar Bank cares for the property strictly for the benefit of those individuals or charities that you choose. These beneficiaries can include you, your spouse, other family members, friends, or charitable organizations.

What Is A Living Trust?

A living trust, also known as inter-vivos trust, takes effect during your lifetime. While you are alive, you can modify the term of the trust, change beneficiaries, or terminate the arrangements as your objectives change. At your death, the trust could be fully distributed, or continued for your beneficiaries, as you direct.

While many people enjoy the convenience of administrative help that a living trust provides, other advantages are far more significant. We will be happy to assist you in designing a trust to suit your needs and accomplish your goals.

What is a Testamentary Trust?

An individual establishes a testamentary trust as part of his/her will. This type of trust provides for asset management after death and distribution of assets at some later time. Because the trust is not funded prior to death, the individual’s assets will go through the probate process, and the trust will be funded after probate has been completed.

What Does the Trustee Do?

Our duties as trustee include:

• Investing trust assets
• Distributing income and/or principal to the beneficiary
• Making tax decisions and filing trust income tax returns
• Maintaining a record of transactions
• Preparing a statement of the account

Why do I Need A Trust?

Special situations and needs require special treatment. HomeStar Bank Trust Services can help you to attain your goals such as:

• Investment management
• Protection from incapacity
• Family protection after your death
• Estate tax avoidance
• Alternative to guardianship

How Do I set Up a Trust?

Our Trust Services staff will be happy to meet with you to discuss your needs and objectives and help you make choices about your particular trust agreement.

You will then need to consult an attorney who is experienced in estate planning to draft the trust document that suits your needs.

Lastly, you will need to deliver your assets to us so that we can begin to manage your trust.

Why HomeStar bank should be your trustee

As a professional fiduciary, we are:

• Removed from family pressure
• Impartial
• Knowledgeable
• Trained and experienced• Always available
• Organized
• Permanent
• Subject to regulatory supervision

Other Trust Services Offered by HomeStar Bank

• Guardianships
• Estate Administration
• Land Trusts
• 1031 Exchanges

HomeStar Trust Services

222 N. Industrial Dr.
Bradley, IL 60915
815-935-2184