Why should I establish a Trust Account?

By setting up a Trust Account now, you can assure your money will be invested wisely and will be handled in the way that you intended.  A Trust can relieve your survivors of tax burdens and can ensure their financial security for the future.

With current tax laws, estates can be taxed at a 55% rate.  Establishing a trust account for your assets can alleviate this burden from your survivors, as well as avoiding months of legal proceedings, and protecting your family's privacy.

The Trust Department will protect your wishes and the intentions of your estate.  Trusts can be set up in a number of ways, from a Charitable Trust to a Custodial IRA.  The Trust Department can be named Executor/Administrator of your will, and can handle all of the affairs that arise.  A Trust can provide for a surviving spouse and/or children for their lifetime as you direct.  The financial decisions may be left up to the discretion of the bank, or the survivors, depending on your wishes.

A Trust Account is not limited to cash assets, stocks and bonds.  Your trust account may include farms, real estate, and even businesses.  You can be confident that your hard earned assets will be secure for your survivors.

How do I get started?

Our helpful Trust Department personnel are always happy to meet with you to discuss your options.  Once you have analyzed your choices and have made a decision as to which direction you wish your assets to take, arrange a meeting with legal counsel.  Your attorney should devise a trust agreement and a will that will work together to secure your intentions.

Once the Trust Department has the proper documentation, we can begin setting up your Trust Account.  We work very closely with your attorney and accountant to achieve a common goal - financial security for you and your loved ones.

Investment products are not FDIC-insured and are neither obligations of, nor guaranteed by Havana National Bank. Products may be subject to risk including market fluctuation and possible loss of principal.

Farm Management

A Farm Management account can help you enjoy your farm without having the hassle of the day to day details.  We will work with you and your tenant to achieve the full potential of your farm.  Through farm management, you can take advantage of quantity discounts on inputs without giving up control of your farm.  Also, we will take care of all your government program paperwork, crop insurance, and grain marketing.

IRAs

The Havana National Bank offers a wide variety of accounts to serve all of your saving needs. Currently, we specialize in three types of individual retirement accounts. These include Traditional IRA, Roth IRA, and CESA (Coverdell Education Savings Account, formerly referred to as the Education IRA).

Simplified Employee Pension (SEP) plans are also available for self-employed or small business owners. These plans offer a means to secure a retirement plan for themselves and their employees.

Any of these accounts can be set up under Custodial, Self-Directed, or Trust management. Custodial accounts invest in an open-ended certificate of deposit. Self-Directed accounts invest in assets directed by the account owner. Trust accounts are invested in assets under the discretion of the trust manager.