At MidWestOne Bank, we offer a full menu of common trust options.
An estate plan for a married couple where the estate is divided into two trusts, with the “A” Trust qualifying for the marital deduction and the “B” Trust that uses the decedent’s estate tax unified credit.
A trust (for a fixed term) for the life of an individual where the income is paid to a non-charitable beneficiary (during the term) and the remainder or principal is paid to a charity upon termination.
A taxable trust funded with the credit shelter amount. Frequently, this type of trust is used to provide benefits to a decedent’s surviving spouse, while avoiding inclusion in that spouse’s gross estate. Assets in this type of trust pass to descendants with no further estate taxes.
The beneficiaries have a limited power of withdrawal from this kind of trust. The withdrawal is usually limited to the amount excludable from gift tax under the annual exclusion.
A trust established to own, or be the beneficiary of, life insurance policies.
A trust designed to be in effect during the lifetime of the grantor. Also known as an “inter vivos” trust.
A trust consisting of property that qualifies for the marital deduction.
A trust designed to help those with special needs (beneficiary) without impacting eligibility for federal benefits.
A trust established so that the interest of a beneficiary cannot be assigned or taken away by creditors.
A trust established by the terms of a will.
You're the One® we're here for at MidWestOne. Contact us today!
Not FDIC Insured
No Bank Guarantee
May Lose Value
Not a Deposit
Not Insured by any Federal Government Agency