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Commercial Bank’s Trust Department is here for you and your loved ones. We understand that every individual has different needs, and likewise, we serve our customers through a variety of trust services.
That is what sets us apart from other companies offering trust services. We go to great lengths to understand and plan for your immediate needs, as well as your long-term goals.
You have worked hard and saved and invested carefully to be as comfortable as possible during your retirement years. As your nest egg increases in size, so does the need to protect it from the problems that can plague even the best organized estates—estate taxes, incapacity of the estate holder, the need for privacy, caring for minor children, and more. Protect your assets during your life and after with a trust.
The two most common types of trusts are living trusts and testamentary trusts.
A Living Trust is created during your lifetime. It offers you peace of mind knowing your assets will be distributed as you direct. A trust document, unlike a will, is a private document so your private affairs remain private. It avoids the probate process and reduces estate settlement costs. It provides for someone you trust to handle your assets according to your wishes should you become incapacitated.
A Testamentary Trust is established in your will and does not take effect until you die. The trust receives your assets at your death and distributes them as you direct. Usually, the purpose of this trust is to protect your children or other beneficiaries. You can even direct your trust to provide for children from a previous marriage or for children with special needs. The testamentary trust can also assist your surviving spouse in managing your estate and in providing a steady income.
Executor or Administrator of an Estate
Understanding the laws of the probate process and the tax consequences associated with a person’s death can be overwhelming. Let Commercial Bank ease your mind and your burden.
Commercial Bank and Trust also acts as custodian carrying out the customer’s directions while performing day-to-day administrative functions.
Custodial services include safekeeping of securities, collecting dividend and interest income, distributing income and principal, voting proxies, keeping records, issuing quarterly statements, carrying out directed purchases and sales, and filing tax returns as required.
Guardian or Conservator
When appointed by the court, the Trust Department may become responsible for the property of a minor or an incompetent individual. We make sure that the needs of these individuals are met and court reports are filed.
- Life Insurance Trust
- Cemetery Trust
- Escrow & Retainage Accounts
- Scholarship & Endowment Funds
We invite you to visit us on the first floor of the Commercial Bank building located at 101 North Poplar Street in Paris, TN. We have the resources to provide the level of service you expect, and we have the sincere desire to help you.
The trust department’s services are so broad, it is hard to list and describe them all. The best approach is to call us.
Vice President and Senior Trust Officer
Those outside the Paris area, may dial 800-273-8889 or e-mail us at [email protected] to discuss your individual needs and long-term goals.
Please DO NOT include any account numbers, social security numbers, or any sensitive personal financial information in your emails to us. Information you submit via email is not encrypted and can potentially be read by others.
Your relationship with Commercial Bank’s Trust Department will serve you well during your lifetime and those you love and care for into the future. Contact us today for an appointment to discuss your current financial situation as well as your expectations for the future.
NOTE: Some services offered in the Trust Department are not FDIC insured and are subject to investment risks, including possible loss of principal amount invested.