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TRUST
DEPARTMENT
The
State Bank of Chilton Trust Department is managed by Paul Hugo.
Hugo is a Chilton native who graduated from Marquette
University where he majored in finance.
He is a graduate of the University of Wisconsin School of
Banking and Northwestern University’s Graduate National Trust
School. In addition,
Hugo holds a Certified Trust & Financial Advisor (CTFA) designation Series 6, 63 and 65 Securities Licenses, a Wisconsin
Life Insurance License and a Wisconsin Accident and Health Insurance
License.
A
trust is an arrangement where assets are transferred for the benefit
of a third party.
The
benefits of trusts are numerous
and can range from:
Ways
a Trust Department Can Act On Your Behalf:
Living
Trusts, Trusts Under Will, Conservatorships and Guardianships
The
Bank, acting in the above capacities, will:
a.
Hold your assets in safekeeping
b.
Collect all income
c.
Pay all bills
d.
Provide complete accountings and investment reviews
e.
Participate in periodic meetings to review investments and
make recommendations
f.
Provide year-end tax information
Fee
schedule: The annual
fee is 1% of the fair market value of the assets
held. The annual fee is
assessed in quarterly installments.
The minimum annual fee is $1,000.
Personal
Representative
The
Bank, acting as your Personal Representative, will perform the
following tasks to settle your estate:
a.
Collect and inventory all your assets
b.
Pay any valid claims against your estate
c.
Meet with your beneficiaries and keep them abreast of the
estate progress
d.
Prepare all tax returns and make any tax payments
e.
Prepare a final account for the heirs and court
f.
Make final distributions to the beneficiaries
Fee
Schedule: 2% of the
Gross Estate plus reimbursement of any extraordinary expenses.
Agency/Custodial
Accounts
The
Bank, acting as Custodian of your assets, will provide the following
services:
a.
Hold all of your assets
in safekeeping
b.
Collect all income
c.
Make periodic distributions of income to you
d.
Make investment recommendations
e.
Prepare complete accountings
f.
Prepare year-end tax information
Fee
Schedule: The annual
fee is one half of 1%
of the fair market value of the assets held.
The annual fee is assessed in quarterly installments.
The minimum annual fee is $750.
401k
Profit Sharing Retirement Plans
The
Bank, acting as Custodian of your assets, will provide the following
services:
a.
Hold all of your assets
in safekeeping
b.
Invest all contributions on your behalf
c.
Collect all income
d.
Prepare and mail quarterly statements
Fee
Schedule: The minimum
fee using a Master Plan is $1,000 per year. Additional
fees apply to adopt the Master Plan.
For
an initial, no-obligation consultation on Trusts, contact Paul Hugo
at (920)849-9371.
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