Living Trust/Testamentary Trust/Dynasty Trust
As trustee of a living, testamentary or dynasty trust, PB&T will administer the trust according to the trust document and manage the trust assets. We offer assistance with tax return preparation, all types of insurance, bill payment and review of investments. We also provide accounting on a regular basis to track all account activity. Reviewing insurance coverage for property as well as working through medical insurance coverage and payments is a peace of mind that our living trust clients tell us is one of the most important services we provide.
Successor Trustee for Trust Distribution Only
When the current trustee of a trust passes away or becomes incapacitated and PB&T is named as successor trustee, we take on the responsibility of completing final distributions of the trust assets in accordance with the trust document. It may include sale of real estate or other property as well as taking care of final expenses and tax returns.
Irrevocable Life Insurance Trusts
In the case of irrevocable life insurance trusts (ILITs), PB&T will handle payment of life insurance premiums, provide notice of gifts to beneficiaries, review the policy’s performance, consider possible investment options and coordinate any necessary tax reporting.
Conservatorship/Attorney in Fact
When a court appoints PB&T as conservator or attorney in fact, we become responsible for the client’s financial matters we manage the assets to benefit the protected person as well as pay bills, address insurance issues and perform other duties as needed. An important part of this appointment is communicating with both the protected person and his or her family. When a family is going through this difficult time, PB&T offers an independent, experienced voice to help all involved.
Personal Representative for Estate
As personal representative of an estate, PB&T is responsible for distributing all assets according to the instructions left in a will. Protecting these assets, paying off any remaining debts, collecting sums owed to the estate, managing investments, handling tax planning and return preparation, providing accountings, and making distributions to beneficiaries or other trusts established through the will are just a few of the duties we take on as personal representative.
