We are pleased to offer a full range of personal and business Trust Services with the same unsurpassed personal service that has become a tradition of Lake Elmo Bank.
Our professional Trust Team will work closely with you to administer any trust arrangement necessary to preserve and manage your assets, protect your privacy and secure tax savings at critical times.
Examples of our trust services include making arrangements to assist your children, spouse or other family members in managing funds properly in the event of your disability or death; fulfilling your wishes with respect to providing education for your children or grandchildren; transferring interests in a closely held business and other assets; or managing resources for aging family members who need a professional financial caregiver they can trust. The following types of trusts can be used to accomplish some of these goals.
• Revocable Living Trusts • Irrevocable Trusts • Testamentary Trusts • Conservatorships • Agency Accounts
Lake Elmo Bank can serve as the personal representative of your estate, if you choose to name us in your will. If you select a member of your family as the designated personal representative for your estate, we can act as his/her agent to manage the appropriate proceedings, tax reporting and general administration of the estate as you direct.
- Financial Planning
- Managed Accounts (bank has investment responsibility)
- Agency Accounts (bank advises but customer directs investments)
- Custodial Accounts (bank processes trades)
- Employee Benefit Plan
- Self-Directed IRA
We believe that our customers deserve, and should expect, nothing less than truly personal service, by dedicated and experienced professionals, in this sensitive area of fiduciary services. As a community based, locally-owned, independent bank, we are committed to providing such service to individuals and families through management of their trusts and estates. We are also well suited to handle trust services for family-owned business planning and the management of non-financial assets.
How can Lake Elmo Bank Trust and Estate Services help?
- For the aging family member who is vulnerable and needs a financial caregiver, Lake Elmo Bank can serve as Trustee to manage assets and protect the grantor’s estate.
- For the aging couple facing new and challenging health issues, Lake Elmo Bank as trustee or agent can manage investments, pay bills and handle financial responsibilities — allowing the grantors to spend time on other needs.
- For the surviving spouse whose financial knowledge is limited: Lake Elmo Bank can serve as trustee or agent to preserve assets, provide financial protection and manage payment of bills and other responsibilities.
- For the remarried person who has established trusts to provide for both families, Lake Elmo Bank can provide objective, unbiased administration.
We look forward to working with you and your family and welcome an opportunity to meet with you. Our Trust Department is located at the Oakdale Office but we are happy to meet you at any Lake Elmo Bank location that is most convenient for you.
IMPORTANT: The personal email addresses provided for staff on this page are not a secure form of communication. Please do not include any personal information (i.e. Social Security Number, account number, date of birth etc.) For your security, please contact the Bank directly at 651.777.8365 or stop by one of our locations with questions about your existing account.
Products and services offered through the Trust Department of Lake Elmo Bank are not FDIC insured; not insured by any government agency, not a deposit or other obligation of Lake Elmo Bank, not guaranteed by Lake Elmo Bank, and are subject to investment risk, including the possible loss of the principal invested.