Creating and maintaining financial security for you and your family, this is the role of The Harvard State Bank’s Trust Department. We meet the challenge of our changing times with the trust and investment services we offer. 

 

Estate Settlement  

 

Being an executor of an estate involves a demanding set of tasks: safeguarding estate assets, paying debts, collecting sums owed to the decedent, accounting of all transactions, filing tax returns and distributing the estate. 

We provide specialized skills in all phases of estate settlement. As your executor we’re sure to be on hand when needed, and no relative or family friend could hope to match our experience and facilities. 

 

Personal Trusts 

 

Testamentary Trust:  By leaving all or portions of your estate in trust, your will can add to your family’s financial security. As trustee, it is our duty to keep the trust principal safely and productively invested and to pay income to the beneficiaries you want protected. 

 

Living Trust:  You establish a living trust to take effect during your lifetime for the benefit of yourself and/or another individual. You have access to the trust income and principal as needed. You can amend or revoke the trust, add or withdraw assets, and approve investment changes. The trust can continue after your lifetime for the benefit of others, and the trust assets avoid the costs, delay and publicity of probate. With The Harvard State Bank as your trustee, a living trust is a flexible planning tool that benefits you financially and gives you peace of mind. 

 

Agency and Custody Accounts 

 

Agency Account: This is a simple relationship in which you retain an institution like The Harvard State Bank to assume responsibility for certain specified duties regarding your investments. Formalities are at a minimum and the arrangement may be terminated at any time. You turn over to us the securities, cash or real estate of your choice and we will manage these assets according to your instructions in the agency agreement. 

 

Custody Account: We provide a complete administrative and custodial service that includes accounting, record keeping, and income collection, plus safekeeping facilities. There is no investment management or advice. 

 

Land Trusts 

 

A land trust is a simple, inexpensive method for handling the ownership of real estate. It is an arrangement by which the recorded title to the real estate is held by a trustee, but all the rights and conveniences of ownership are exercised by the beneficiary whose interest is not disclosed. This method of owning real estate can eliminate many of the difficulties that otherwise may be encountered in acquiring, owning, selling or transferring real estate. 

 

Some of the benefits of a land trust are privacy of ownership, ease of conveyance and avoidance of probate. Our trust professionals want to help you protect your property and its future distribution to your heirs in a responsible, organized and uncomplicated manner. To find out more about how a land trust can help you please contact our Trust Department. 

 

 

Contact The Harvard State Bank at (815) 943-4400 for more information. 

Contact Hebron Community Financial Center, A Division Of The Harvard State Bank at                              (815) 648-2481 for more information. 

Contact Community Bank of Oregon, A Division Of The Harvard State Bank at (815) 732-3111 for more information. 

Contact Community Bank of Rockford, A Division Of The Harvard State Bank at (815) 397-3111 for more information.