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Trusts & Investments

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Trusts & Estates

Revocable Living Trust - Contact Us Now
 

When you create this trust you transfer ownership of your   assets to the trust; typically called "funding."  When you transfer title you do not relinquish any control. You can still buy, sell, borrow or transfer. If you become incapacitated, your named trustee is able to act on your behalf.  It also avoids probate at your death.

 Life Insurance Trust - Contact Us Now

A life insurance trust is an irrevocable trust that is set up for the purpose of owning a life insurance policy. If the insured is the owner of the policy, the proceeds of the policy will be subject to estate tax when he dies. But if he transfers ownership to a life insurance trust, the proceeds will be completely free of estate tax.  It cannot be rescinded, amended, or modified in any way after it is created. Once the grantor contributes property to the trust, he cannot reclaim ownership of the property or change the terms of the trust.

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Standby Trust - Contact Us Now

This trust works like a contingency plan. You manage your assets until a predetermined event occurs such as incapacitation or extended vacation. The trustee then manages your assets until you are able. 

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Executor of Estates

As executor, we collect the assets, maintain clear and accurate accounts and records, pay all taxes and claims against the estate,  prepare a final accounting for probate court and make the final distribution to heirs and beneficiaries.

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Guardianship

Guardianship is established by a court order to protect the assets of those not able to manage their own property. This often serves minor children or incompetent adults.  The guardian is expected to report to the court on a regular basis detailing the income received and expenditures made during the reporting period.

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Agencies

An agency carries out certain functions for the customer. This  includes investment management according to your investment philosophy and can include bill payment and tax preparation. Ownership remains with the customer, unlike a trust. 

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Testamentary Trust

A testamentary trust is established by a will and does not take effect until the death of the trustor. The trust department then collects the assets and carries out your wishes according to the terms defined in the will and reports its actions to the Probate Court.

 

Custody Account

 

A custody account is for your safekeeping of your securities as well as recordkeeping and administrative services.

 

 

 

Non-deposit investment products are not insured by the FDIC or any other agency of the United States, are not obligations of, or guaranteed by The North Side Bank and Trust Co. Non-deposit investment products are subject to investment risks, including the possible loss of the principal amount invested.