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Testamentary Trusts

A testamentary trust is established at the time of a person's death pursuant to the terms of a last will and testament. It is an agreement between the individual writing the will and a selected trustee for the benefit of named beneficiaries.

The Guaranty Bank Trust Department, as trustee, provides the following services for a testamentary trust:

  • Management of trust property as stipulated in the will
  • Investment of trust assets with unlimited trading
  • Distribution of income and principal to beneficiaries as stipulated by the trust
  • Delivery of quarterly (or more frequent) reports to the trust beneficiaries
  • Delivery of tax information for the preparation of personal income tax returns
  • Coordination or preparation of the trust's income tax return