Trust Services

We Take Your Financial Future Personally

Placing your financial future in someone else's hands requires trust. Planters Bank Trust Services has a solid reputation built on local experience, integrity and most importantly, security.

Planters Bank Trust Services is dedicated to make planning for your financial future more convenient and secure. We know that people who work hard to build wealth want the peace of mind knowing their investments are working hard for them … and will continue to do so in the future.

Asset Management

While you are accumulating wealth or preserving what has already been accumulated, a personalized investment plan is critical to your financial success. Planters Bank Trust Services can assist with the development, implementation and management of your personal investment plan. Along with our local knowledge, Planters Bank Trust Services also offers our clients the benefits of our partnership with Argus Research, an independent New York investment and research firm that provides equity research and investment services to institutional investors. The benefit of this relationship is the availability of quality, mainstream investment research, and analysis offered through the locally owned and operated Planters Bank Trust Services.

Trust Administration

Trusts administered through Planters Bank Trust Services provide an efficient means of preserving, protecting, and managing your assets both during your lifetime and after your death, for the continued benefit of your family.

Planters Bank Trust Services can offer you assistance with the creation and implementation of a variety of trusts, including but not limited to:

• Living Trusts – Trust created during the life of the grantor.
• Testamentary Trusts or Trusts Under the Will – Trust created under the last will and testament of the deceased.
• Irrevocable Life Insurance Trusts – Trust which owns and is beneficiary of life insurance policies on the life of the grantor.
• Charitable Lead or Charitable Remainder Trusts – Set up by the grantor to benefit their family members as well as their favorite charity
• Special Needs Trusts – Provides financial supplement for someone with a disability without jeopardizing government assistance.

Benefits of naming Planters Bank Trust Services as Trustee:

• It is our fill-time profession.
• We have staff trained and experienced in trust management.
• We are not subject to some of the complications of an individual trustee, such as death or incompetence.
• Impartial treatment of trust beneficiaries.

Estate Planning and Administration

It is crucial to create and properly maintain a well-structured estate plan that addresses your family’s needs. Here are some suggestions:

• Create/update your will – Your will is the primary document used to transfer your wealth after death. Deciding now how you wish your legacy to be passed on to your heirs may avoid problems later.
• Review your estate plan – Review and reassess your estate plan whenever you change marital status, make a career change, or move to a different state.
• Select an executor that will ensure your instructions will be scrupulously followed and your beneficiaries will receive personal attention.
• Consider trust and gifting strategies – If you have a sizable estate to manage, you may save on taxes through establishing trusts and gifting.

Choosing Planters Bank Trust Services as Executor will provide your estate with specialized skills in all phases of estate administration. As your executor, we are sure to be on hand when needed, and no relative or family friend could hope to match our experience and technical abilities. We are objective, neutral professionals in carrying out our fiduciary duties. Yet our fees for estate administration are no greater than inexperienced individuals might be entitled to receive.

Small Business Retirement Plans

Planters Bank Trust Services can help you with your small business retirement planning. We offer several plans through our Trust Services.

SEP-IRA

A Simplified Employee Pension Plan, commonly known as a SEP-IRA, is a retirement plan specifically designed for self-employed people and small-business owners. When establishing a SEP-IRA plan for your business, you and any eligible employees establish your own separate SEP-IRA; employer contributions are then made into each eligible employee’s SEP-IRA.

SIMPLE IRA

SIMPLE IRA Plan allows you and your employees to make contributions to SIMPLE IRAs. Contributions can be made via elective deferral (employee) and matching or non-elective contributions (employer). Employer contributions are tax-deductible and employee contributions are excluded from income for federal income tax purposes.