Trust Services

You want a secure financial future for you and your loved ones, no matter what may lie ahead. With more than 90 years' combined experience, the Guaranty Bank Trust department offers flexible options to meet your investment, estate, business succession and future planning needs.
Agency Accounts Conservatorships Custodial Accounts Employee Benefit Accounts Executor of an Estate Irrevocable Life Insurance Trusts Retirement Planning Calculator Revocable Trusts Self-Directed IRA Accounts Testamentary Trusts Trust Chats Contact Trust Staff Back
Irrevocable Life Insurance Trusts
An irrevocable life insurance trust (or an ILIT) is established to provide life insurance proceeds to named beneficiaries upon the death of the individual creating the ILIT (the grantor). An ILIT is irrevocable by its terms.

The Guaranty Bank Trust Department, as trustee, provides the following services for an irrevocable life insurance trust:
  • Collection and maintenance of life insurance policy
  • Delivery of premium request notices to the grantor
  • Delivery of withdrawal notices to beneficiaries
  • Payment of insurance policy premiums
  • Delivery of annual reports to the grantor
  • Quarterly review of the life insurance company’s ratings
  • Preparation of fiduciary (trust) income tax return