Estate Settlements: Personal Representative
When you name Sturgis Bank as the Personal Representative of your estate, you’ll have a professional, experienced Trust Officer managing your legacy.
Our responsibilities include:
- Identifying and collecting assets
- Paying debts and expenses
- Assuring timely and accurate tax filings
- Processing Health and Life Insurance claims
- Managing assets
- Filing comprehensive Court accountings promptly
- Making financial distributions to beneficiaries
The fiduciary responsibilities of Sturgis Bank may extend beyond trusts to include the management and special recordkeeping of the following types of accounts:
- Custody services: the settlement, safekeeping, and reporting of your marketable securities and cash.
- Foundation recordkeeping: Subaccounting for the various foundation funds.
- Pension plan paying agency: for processing benefit payments and handling applicable tax reporting.
- Scholarship Trusts: scholarship distributions.
- IRA’s: required minimum distributions and tax reporting.
Importantly, choosing our Trust Department as your Personal Representative ensures the estate settlement is:
- Objective, without the conflicts of interest that can arise with individual Personal Representatives
- Protected from any misappropriation of funds or assets
Contact us today to learn how the Trust Department at Sturgis Bank can help you reach your financial goals.