Don’t just think about your legacy, plan it.
Your estate plan is a critical financial management tool that protects your family’s future. While a Will directs what happens to your property when you die, a complete estate plan contains thoughtfully crafted documents to protect your loved ones in case of disability or death.
If there are no legal provisions under an estate plan for handling your property, the state in which you reside has laws that determine how your property will be handled. Chances are they won't be exactly what you would want, particularly in cases where there are second marriages and children from each marriage.
Once you decide the management of your property in case of death, the next most important decision to make is who will implement your written plan competently and completely according to your wishes.
Who Should Be Your Executor?
It's important to know that most individuals do not have the necessary background, education or experience to handle the duties of estate management. We are a trust company with fiduciary powers and have the legal authority to serve as your executor. We can also serve as co-executor with a designated individual.
As executor, we have the expertise and experience to competently and ethically administer an estate. We are independent, responsive, reliable and attentive, and provide detailed statements and accounting. An executor must understand:
- Probate and trust law
- Finance and accounting
- Investment/asset management
- Income and estate tax issues and filing deadlines
- Employee benefits
- Business agreements, prenuptial agreements, cash flow, liability management
Why Choose First Financial Trust To Manage Your Estate?
At First Financial Trust, we have been managing trusts and estates since 1927 and maintain a well-educated and expertly trained staff to assist you through every step of the estate planning process.
We work with you, your attorney and your CPA to gather financial information and define the goals you have for yourself and your family.
Following a death, families face emotions that can be difficult to process. Our professionals understand these situations and will settle your estate competently according to your written document, and with compassion and understanding for your heirs.