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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 Universitys 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:

  • Investment recommendations and follow-through

  • Year-end tax information

  • Peace-of-mind

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.

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. Prepare complete accountings

e. 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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