Do I need a trust if I already have a will?

Possibly. While there are some common elements that both instruments address, one is not necessarily a replacement for the other. You may find you need both in place to best preserve and protect your legacy. To assist you in comparing the benefits and limitations of each, we suggest you consult with your attorney or other trusted legal professional to discuss your particular situation.

Does a trust help me avoid probate?

Yes. Upon one’s death a will must always be probated or “proven valid.” A living trustee, however, is a separate legal entity and assets placed within it are not subject to probate when the creator dies. As a result, the directives contained in the trust can be carried out without delay in most cases.

Do I lose control if I set up a trust?

No. You do not give up control when you create a revocable living trust. You keep as much control as you want. As the creator of the trust, you retain the power to change trustees, add or withdraw assets at anytime, amend or even revoke the trust altogether.

Are trust services expensive?

No. Not when you select HNB Bank as your trustee, We find many of our clients pleasantly surprised to discover our annual fees are actually less than paying for mutual funds services or investment advice – and the service is even better! We have no hidden fees; all costs associated with our services are discussed up front.

Is my trust agreement private?

Yes. Unlike the terms of a will which become a matter of public record, the terms of a trust agreement remain private.

Is setting up a trust difficult?

No. But first we need to understand your financial goals and concerns. You will then want to share your vision with an attorney, who actually prepares your trust agreement. As creator of the trust, you then name a trustee, such as HNB Bank, to manage your trust.

What about Flexibility?

A revocable (amendable) trust allows you the benefit of professional money management today, and helps you avoid probate in the future. Just as with an investment account, you can add or withdraw funds and change the instructions that govern HNB Trust division’s duties as trustee.

Will my assets be safe?

Yes. Trust assets are held separately from bank deposits and cannot be reached by bank creditors. In addition, trust assets are protected by very thorough, periodic examinations by both internal and independent external auditors.

Why name HNB to manage your trust?

Service. The relationship you have with your trustee is one of responsibility and mutual respect. Our experienced professionals go the extra mile to ensure your complete satisfaction. We will explain everything in terms you understand and make sure your wishes are carried out. Our institution is over 85 years strong, and in addition to this financial stability, we have the knowledge, experience and ability to manage all of your investment details.