Do I need a trust to invest with Bremer?No, you're not required to create a trust. If you prefer, you can put us to work on a less formal basis. All it takes is a simple agreement, designating us to act as your investment agent.
What are the advantages of a trust?With a trust you can not only draw on our broad investment capabilities but also arrange to have us perform any number of special services, now or in the future. These personalized services could range from making payments of estimated taxes while you're traveling abroad to providing full personal financial management in the event you suffer an incapacitating illness. Also, you can name one or more beneficiaries to receive the assets of your trust at your death. These distributions avoid probate. Or, you can have your trust continue beyond your lifetime, serving as a source of continuing income and support for your spouse, a child or others whom you designate.
Is it difficult to set up a trust with Bremer?No, there are just two steps:
- Transfer the funds and/or securities for the trust to Bremer.
- Have your attorney write your intentions for the trust in the form of a trust agreement. The agreement should be signed by you (as creator of the trust) and by us (as trustee).
That's all there is to it. Trusts of this type are often called living trusts to distinguish them from testamentary trusts (those established under the terms of a will). Living trusts created for the purpose of personal asset management are also known as revocable trusts. That's because the person who creates the trust reserves the right to terminate or revoke it.
Can I maintain control over my trust?Certainly. There are three ways to draft your trust agreement so that you maintain control:
- State that you may wish to make withdrawals or additions at any time.
- Reserve the right to terminate the trust.
- Reserve the right to give us new or different instructions by amending the trust agreement.
Are trust services expensive?No. Our fees are competitive with those charged by investment advisory firms, and we often provide more sevices, such as custodianship of securities, recordkeeping and other conveniences.
How big must a trust fund be?There are no fixed minimums. To find out whether a trust is right for you, schedule an exploratory talk with a trust officer.
How much of a return will I get on my money?That depends on your goals — current income, long-term growth to offset inflation, or some balance of the two — and on ever-changing investment conditions. As trustee, our goal is to provide reasonably consistent returns over the years. We emphasize careful asset allocation, quality investments, and constant vigilance.
Who should be the trustee of my trust?Look for experience. Consider a person — or a financial organization such as Bremer — who has proven asset management experience with diverse clients. Your trustee should have financial strength as well as professional investment capabilities. The trustee should be active in the financial markets every day, and should consider managing your trust as a full-time job.
How can I find out more about trusts?Our trust and investment pros will be glad to assemble further information for you, analyze your investment requirements and answer questions not covered here. Call us at 1-800-908-BANK (2265) to speak to a Phone Bank Representative 6 a.m. – 10 p.m. Monday – Friday; 8 a.m. – 5 p.m. Saturday.
Speak with a Trust Officer, call Bremer at 1-800-908-BANK (2265)