Fiduciary Services

While you do not need to discuss the terms with us ahead of time, we highly recommend that you do. Your attorney has likely provided you with excellent legal advice, but we are always happy to talk through the very practical outcomes of the terms you include or exclude in your documents. Many clients have said that they were very happy that they discussed the terms they wanted to include in their trust with us before signing so they could make some slight tweaks, or to just have peace of mind that their terms would be carried out exactly how they intended.

No, it is not a requirement for you to move your banking relationship and investment relationship to Lake Ridge Bank. However, we believe it would be beneficial for you to do so.

• First, you will likely be retitling accounts and updating beneficiary designations and reviewing/consolidating assets as you are finalizing your estate plan. This is a great opportunity for you to close accounts and even consider moving accounts to the institution that will be handling your affairs after you pass away and/or if you are ever deemed incapacitated.
• Second, if you have named Lake Ridge Bank as your successor trustee or personal representative and want to move your banking relationship to Lake Ridge Bank, as long as we remain named in your document, you will have the opportunity to work with our Executive (aka Private) Banking team. Our Executive Banking department provides you with personalized financial and investment services and products from a dedicated personal banker. They will be able to assist you in the transfer of direct deposits, and with any automatic withdrawals you may currently have set up.
• Third, if you decide to move your brokerage account(s) and/or retirement account(s) to Lake Ridge Bank, you may be eligible to receive a discount for your post death administration fees. Ask your Trust Officer for additional information if this would be something you’re interested in doing.
• Finally, if you open an account with our Wealth Management Team, you will be able to work with one of our Financial Advisors as a complimentary service.

   

Choosing a corporate trustee offers several advantages. A corporate trustee provides professional expertise, objectivity, and stability to the management of your trust. Unlike an individual, a corporate trustee will always be there, providing continuity over time, which is especially important for long-term trusts.

A corporate trustee is a bank or trust company that specializes in managing trusts and estates. They handle everything from investment management to administrative tasks, ensuring that your trust is managed professionally and in accordance with your wishes.

Lake Ridge Bank is a community bank, meaning we are accessible, local, and involved in the community that you live in. We pride ourselves on being responsive, caring, and professional. We understand that when you name someone in your estate plan, you need to be able to trust them. We are confident that you can trust us, and we welcome you to set up a meeting (virtual, or in-person) with one of our trust officers who could be assigned to your account. We have had many lifelong clients who have banked with Lake Ridge Bank when they were young, invested with Lake Ridge Bank as they furthered their career and sold businesses, allowed Lake Ridge Bank to take care of their finances when they were deemed incapacitated, and then continued their legacy by enabling Lake Ridge Bank to settle their estate. We have had many happy beneficiaries who decided to name us in their documents after seeing how we managed their relatives’ estates or who have decided to open an account with Lake Ridge Bank Wealth Management after meeting our many talented trust officers and portfolio managers.