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Estate Planning Purposes

First National Bank Alaska's Trust and Investment Management Department may be the best place to put your money

For more than 50 years, First National Bank Alaska's Trust and Investment Management Department has provided fiduciary services to trusts, individuals, families, charitable organizations and government entities in Alaska.

First National's strong capital provides added protection for funds being invested through the bank's Trust Department.

First National is highly regulated

First National Bank Alaska is regulated by the Office of the Comptroller of the Currency (OCC). Regulators are responsible for making sure that banks are in compliance with fiduciary principles and standards.

As trustees, First National has a fiduciary obligation–a position of special trust and confidence. The fiduciary is responsible for managing the beneficiary's money and providing the highest level of care.

First National can provide a wide array of services at a "one-stop-shop"

First National's Trust and Investment Management Department can offer a number of personal agency services such as those of custodian, investment management agent, rollover IRAs and invested escrows.

Different services include: probate and estate management, guardianships, and trusteeship of personal, charitable and life insurance trusts.

Knowing how to choose a reliable trustee ensures that your estate will be properly managed

When selecting a trustee or successor trustee take into consideration the purpose and complexity of the trust along with his/her technical skills and ability to carry out your plans.

A trustee has the duty to act solely in the interest of the beneficiaries–what's called a fiduciary relationship. There can be no conflict of interest.

In most cases, the decision comes down to choosing between an individual–a family member, a professional colleague, a friend or professional advisor such as a family lawyer or accountant–or a corporate trustee, like a bank or trust company.

The best trustees have the ability to make sound investment decisions and overall fiduciary experience. They also display diplomacy–the ability to deal with the difficult family conflicts that can arise.

One advantage offered by a corporate trustee is access to current information (estate and gift tax laws and other regulations governing trusts–especially when assets are in more than one state) and a wide range of talent within the institution.

When choosing a financial advisor, look for:

  • Qualifications and experience such as education, number of clients, resume and references.
  • An advisor who is fee-based, rather than one who earns a commission. This ensures their recommendations are in your best interest.
  • An experienced Alaskan who is knowledgeable about the state of Alaska and its laws and business practices.

Products purchased through First National Bank Alaska's Trust Department are not FDIC insured, not guaranteed and may lose value.

For more information, visit FNBAlaska.com/trust_and_investment_services.html.

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The articles and opinions in this publication are for general information only and are not intended to provide specific advice or recommendations for any individual. We suggest you consult your attorney, accountant, financial or tax adviser with regard to your individual situation. Entire publication. For publication information, call (907) 777-3409.

 

FIRST NATIONAL BANK ALASKA
PO Box 100720 · Anchorage, Alaska 99510-0720
Local Phone: 907-777-4362 · Toll Free: 1-800-856-4362
customer.service@fnbalaska.com

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