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The Living Trust
A trust that you create and that operates during your lifetime is known as a living trust. With a living trust, you can specify precisely how your assets are to be managed throughout your life, for your benefit or for the benefit of others you designate. A living trust is a vehicle that allows you to have peace of mind and to know that your personal and financial objectives will be met.
A living trust is a personal, tailored legal agreement that will be designed by your attorney and First Community Trust based on what you want and need to accomplish. It gives you the resources to manage your assets to attain your goals. And it relieves you of any financial duties you might consider troublesome.
Your trust can be designed in any number of ways to accomplish your objectives. For example, it can be designed to:
Assure management of your assets for your lifetime benefit,
Ensure that your spouse will continue to live in his or her accustomed fashion,
Protect the financial interests of your children,
Support loved ones who are disabled or elderly, or
Provide for other matters of special importance to you.
You have nearly unlimited discretion in establishing trust provisions. You can choose to serve as trustee of your assets, naming First Community Trust as your successor in the event of your incapacity, death, or resignation. Or, you can elect us as your trustee immediately. Moreover, depending on your arrangement, the trust can be altered or terminated upon your instruction.
If you wish to provide professional investment management for your assets, yet desire the freedom to pursue other interests, consider naming First Community Trust as your trustee. First Community Trust will administer your assets for your benefit during your lifetime and for the benefit of your heirs thereafter. A living trust can offer you peace of mind in knowing that your personal and financial objectives are in good hands.