Overview
Heritage Bank now offers Trust Services, a complete in-house Trust Services department that holds Trust powers in the states of Washington and Oregon.
Our Trust Services are designed to provide maximum benefit to Trust and Estate Beneficiaries while following the written directives of the settlor of the trust. We offer a full array of Trust Services including:
Trust Administration
- Special Needs Trusts
- Revocable Living Trusts
- Irrevocable Trusts
Guardianships and Conservatorships
Probate and Estate Management
- Preparation of decedent’s tax information
- Preparing the inventory
- Handling creditor’s claims
- Arranging for appraisals
- Liquidating assets
- Dividing and distribution of assets
- Processing life insurance claims and other special duties
Asset Management for Individuals
- Health Care Management
- Tax information compilation for accountant
- Individualized services as needed
- Bill Paying
Commercial and Residential Real Estate Management
Life Insurance Trust Management and Due Diligence for contracts owned or purchased by the trust
Your Advantages
There are significant advantages to using Heritage Bank as trustee, personal representative, conservator, or as fiduciary of a special needs trust. These advantages include:
Independent Investment Selection Process: Heritage Bank does not use any proprietary investment products and engages a variety of advisors, broker/dealers, and financial planners to help manage our clients’ assets.
Financially Accountable: Heritage Bank is fully accountable for all Trust Services activities. Some non-bank financial services firms and independent trust operations have very limited capital. Brokerage firms have access to more capital although any claims or losses may be subject to arbitration.
Fee Flexibility: We can accommodate assets or accounts beyond the scope of traditional trust companies or banks. Our fee structure enables us to fulfill customer service objectives without being constrained by an asset fee budget, the basis used by most trust management providers.
Experienced Trust Officers: Our Officers have extensive experience in trust administration, business management, investments, insurance, law, taxation, and traditional banking.
Taxation Advantage: Irrevocable Trusts may enjoy a distinct income tax advantage through an administration located in the State of Washington. This advantage may be limited because of beneficiary or asset location. We have found that the avoidance of state income taxes can assist in the retention of valuable assets for the benefit of the trust beneficiaries.
Regulatory Oversight: Our Trust Services are subject to periodic reviews by the FDIC, the State of Washington, and our own internal bank auditors. A Trust Committee and a Trust Investment Committee review all new accounts and annually review and approve the investment allocations and selections for all accounts. This special oversight is unmatched by non-bank money managers and independent trustees.
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Disclosure:
Investment products are not obligations of, guaranteed by any bank including Heritage Bank or any Heritage Bank affiliate, nor are they insured by the Federal Deposit Insurance Corporation, the Federal Reserve, or any other agency. An investment in such products involves investment risk, including possible loss of principal.
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