Converse County Bank

The Trust Department is a service of Converse County Bank. Our Trust professionals have teamed with investment counselors, retirement plan specialists, attorneys, and CPA’s, enabling you to be confident that your account will be handled properly.

Living Trusts
Trusts Under Will / Testamentary Trusts
Estate Settlement
Conservatorships
Farm / Ranch Management
Self-Directed IRAs / IRA Rollovers
Employee Benefit Plan Administration
Other Services

Living Trusts
A Living Trust is a trust that’s established during one’s lifetime. It may be structured in such a way that it is revocable, which means that you can change the terms or end the arrangement whenever you wish. Under a typical Living Trust agreement (which is drafted by an attorney) ownership of assets or property is transferred to the trust and is managed by the Trustee on behalf of one or more beneficiaries. A properly drafted Living Trust can function flexibly during life and minimize delays and expenses at death. Additionally, a married person’s revocable trust can reduce the combined estate of husband and wife in much the same way as trust provisions in a will.

Trusts Under Will / Testamentary Trust
With a Trust Under Will, you continue to provide financial security to those close to you after your death. Our Trust personnel, your legal advisor, and your tax advisor, can help you establish an estate plan to provide income and support for one or more beneficiaries, such as a spouse or minor child.

A Trust Under Will provides added reassurance that after your death, your funds will be managed, invested and distributed in a manner, which meets with your pre-established goals, and in a way that benefits your loved ones.

Estate Settlement
Converse County Bank can serve as Personal Representative for your Estate. As part of these services the details of probate, inventory, safeguarding of assets, collection of debts, filing of tax returns and distribution of assets will be handled efficiently and professionally. This can relieve your family or friends from the burden of dealing with these
unfamiliar tasks.

Conservatorships
A Conservator is a Court Appointed Manager for an individual who cannot handle his/her own affairs because of age or illness. Under a typical Conservatorship, the Converse County Bank manages the assets including investment of funds and payment of money for the benefit of the individual.

Farm / Ranch Management
Owners who do not have the time, desire or expertise to handle the day-to-day management of their property will benefit from our Farm/Ranch Management Service. This service relieves owners from the task of handling tenants, operations and reporting requirements.

Keeping owners informed of their operation’s status is a high priority. Communication is provided on a regular basis through personal contacts, reports and periodic statements of income and expense.

Self-Directed IRAs / IRA Rollovers
A Converse County Bank IRA is one of the easiest ways to save and earn interest to retirement. A self-directed Individual Retirement Account is a great way to maintain the tax-advantaged status of the funds from lump-sum distribution from a pension, 401(k) or similar tax-deferred* retirement plan. It provides for the investment of funds in stocks, bonds and mutual funds in addition to bank CDs.

Converse County Bank also serves as custodian for IRAs with alternative investments such as Real Estate, and various other unique assets or business interests.

*Consult your tax advisor.

Employee Benefit Plan Administration
Retirement plans such as Simple IRA and SEP IRA programs can be valuable tools in attracting and retaining valuable employees. Our Trust Department administers retirement plans for corporations, partnerships and individuals in a variety of ways, each structured to meet the specific needs and objectives of the client.

We’re equipped to facilitate the establishment of new plans, and to serve as the successor administrator for existing plans as well.

Other Services
Converse County Bank offers a full range of trust financial and retirement plan services. We welcome the opportunity to meet with you to discuss the advantages of having your account with us.

*With the exception of bank CDs, all investments available through the Trust Department are not bank deposits, not FDIC-insured, and are subject to investment risk including possible loss of principal.