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Creating, Growing and Preserving Wealth
We understand your needs are unique based on your personal situation. That’s why BOS Trust Services provides flexible options tailored to meet your individual needs. Whether personal, business, or investment related, we are here to guide, grow and perpetuate your family's assets with trust, exceptional local attention, and profound local commitment.
BOS Trust Services
Trust Solutions to help fulfill your legacy.
Trust Under Agreement
A Trust Under Agreement is used as a means to keep a property owner’s affairs in proper order even in the event of incapacity, prolonged illness or death of the owner. If the owner desires to no longer direct the trust, BOS Trust Services can serve as trustee or successor trustee.
Trust Under Will
A Trust Under Will is created when a grantor’s will stipulates that any portion of an estate is awarded to a trustee, to be managed for the beneficiary. BOS Trust Services can act as trustee for a Trust Under Will. This kind of trust does not become operative until after the death of the grantor.
Trust and Estate Settlement
Professional death settlement services are needed when serving as a descendant's executor/personal representative or trustee. The death settlement process is complex and requires a wide range of duties depending on the situation. As executor or trustee, BOS Trust Services will perform the following duties:
- Secure and gather assets
- Prepare an inventory
- Submit court accountings
- Pay outstanding bills
- Handle distributions
- Identify and notify beneficiary(ies)
- Facilitate the sale of real estate and personal property
- Satisfy all tax obligations
Irrevocable Life Insurance (ILTs)
A life insurance trust owns insurance policies for you. Since you do not own the insurance policy(ies) when you pass away, generally the proceeds should not be included in your taxable estate. As trustee of your life insurance trust, BOS Trust Services is responsible for ensuring the premiums are paid on the policy(ies), notifying the beneficiary(ies) when deposits (gifts) are placed into the trust, and disbursing the proceeds as directed in the trust agreement.
Investment Management Agency
Few of us consider ourselves to be professional investors. You may not have the time, facilities or specialized expertise to optimize returns on your investment portfolio. Under an investment Management Agency Agreement, BOS Trust Services can manage administrative details. This includes tracking the following:
- Purchases
- Dividends
- Maturities
- Sales
- Interest Payments
- Corporate actions
We also collect income and deposits, handle disbursements as you direct, provide periodic statements showing the status of your account and supply you with all of the information you need for your income tax filings
BOS Trust Services under an Investment Management Agency, will tailor investment portfolios to fit specific needs and objectives for individuals, businesses and organizations
Custodial Services
Custodians generally have no investment management or advisory duties. BOS, serving as custodian, will implement your directives and act on your behalf for investment purposes. As directed, a custodian:
- Holds assets
- Facilitates trades
- Collects income and principal
- Pays bills
BOS, as custodian, also provides periodic statements and tax information to the account owner. BOS offers custodial services to individuals, businesses or organizations.
Guardianship
When a minor or disabled adult becomes entitled to a share of an estate, a "guardian" of the "ward" is appointed by the court. If BOS is named guardian of the estate, BOS will hold and and manage the property, make regular accountings to the court, distribute funds for the benefit of the ward and make the final settlement when necessary.
Learn more about the benefits of working with BOS Trust Services.
Please contact us any time at:
Phone: (833) 322-1990
Fax: 217-391-5420
Email: trustservices@bankwithbos.com
BOS Trust Services is not a “broker-dealer” and does not provide brokerage services.
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This information provided is for marketing purposes and is not designed to substitute for full account disclosure of any product described herein. This information is not designed as a substitute for tax or legal advice. Bank of Springfield and its representatives do not provide tax or legal advice. For tax and legal related questions, refer to your accountant or attorney.