Do you ever wonder what type of services are provided by the Trust Department? Our Trust Department takes care of customers of all ages by managing a wide range of services including the following:
A Trust is a written legal document into which you place assets of your choice naming a Trustee to manage the assets for the beneficiaries who you have named.
A Testamentary Trust is set up from a Will after death that aids in taking care of minor children or other beneficiaries where it might be in their best interests to delay receiving their inheritance.
UBI can serve as Trustee or Successor Trustee, whatever your needs require. When you choose UBI as your Trustee, you have an experienced professional who you can count on to carry out your wishes.
CONSERVATORSHIPS A conservatorship is the appointment of a guardian or protector by a judge to manage the financial affairs of another person due to old age or physical or mental limitations.
UBI can serve as your Conservator. Our Trust Department has managed conservatorships for many individuals with many unique needs and wishes.
ESTATES When preparing your Will, you will need to name an Executor to carry out your wishes and disburse your property.
By choosing UBI as your Executor, you will have reliable and experienced staff who are always available and ready to devote the time required. If you choose a child, friend, or relative, you risk causing hurt feelings, having someone who is not capable, doesn’t have the time, or may not even be around.
STARKER EXCHANGE (1031 Exchange) In real estate, a 1031 Exchange is a swap of one investment property for another that allows capital gains taxes to be deferred.
After an attorney draws up the documents, you can count on the UBI Trust Department to carry out the instructions.
IRREVOCABLE LIFE INSURANCE TRUST (ILIT) An ILIT is used to set aside assets for certain purposes, such as paying estate taxes, because these assets themselves are not taxable. Life insurance policies are the chief assets held in an ILIT.
UBI can serve as the Trustee to collect premiums and manage the required communication.
BROKER’S OR FREIGHT FORWARDER’S TRUST FUND AGREEMENT Are you being required by the Federal Motor Carrier Safety Administration to have a Trustee hold funds for you?
UBI can be that Trustee.
FARM MANAGEMENT A Farm Manager can supply accounting services, negotiate leases, perform farm visits, market grain, manage multi-peril and crop-hail insurance, oversee tiling, bins and conservation, provide financial analysis and tax planning, and so much more.
UBI Farm Managers can take care of all of these things! If you don’t live in the area or simply don’t want the hassle, we are here to help.