Home > Trust > Trust Services > Revocable Trusts

Revocable Trusts

A Revocable Living Trusts (or inter vivos trust) is established during a person's lifetime for the management of property, investments and distributions. It is an agreement between an asset owner and a selected trustee for the benefit of named beneficiaries. The trust may serve to simplify distribution of assets when the asset owner passes away. A revocable trust, in accordance with its terms, may be amended or terminated at any time to meet changing needs.

The Guaranty Bank Trust Department, as trustee, provides the following services for revocable trusts:

  • Management of trust property
  • Investment of trust assets with unlimited trading
  • Distribution of assets pursuant to the terms of the trust
  • Payment of living expenses pursuant to the terms of the trust
  • Delivery of quarterly (or more frequent) reports to the asset owner and beneficiaries
  • Delivery of tax information for the preparation of personal income tax returns
  • Coordination or preparation of the trust's income tax return