THE AMERICAN
National Bank of Beaver Dam
Member FDIC
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THE AMERICAN National Bank of Beaver Dam Member FDIC
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Trust Department
The American National Bank of Beaver Dam takes great pride in being a locally owned, independent bank providing a complete range of personal trust and investment management services. Our knowledgeable staff are available to provide information and assist on any number of different financial and estate planning matters.
John Oathout, Kathy Heim and the American National Bank of Beaver Dam's Trust Department provide professional Trust Services with a personal touch, from the same bank that has been serving the Beaver Dam area since 1891.
Within the American National Bank of Beaver Dam's Trust Department we are able to serve the following needs:
Living Trusts
Living trusts are a valuable financial planning tool and can be useful for anyone. People setting up this type of account generally are seeking professional investment management complete, full-time record keeping and safekeeping of investments, and tax advantages.
To create a living trust, your lawyer will prepare a trust agreement to be signed by you. You can specify such details as the amount of control you wish to exercise over investments held in trust, how or if you want income paid out to a beneficiary, and what role you wish the trustee to play over the life of the trust.
Testamentary Trusts
Providing lifetime income for a spouse or loved one, supporting a child’s education, or minimizing the tax bite on an inheritance are just a few of the reasons people establish trust for their heirs.
Testamentary trusts are created in your will and funded upon settlement of your estate. They may be funded with almost any kind of asset -- cash, real estate, securities, collectibles -- and can represent all or just part of your total estate.
Estate Settlement
The person or financial institution named as personal representative of an estate takes on a vital role during the estate administration process. The personal representative’s principal function is to settle and distribute the decedent’s estate pursuant to the directions in the Last Will and Testament.
Our trust department can serve as personal representative of estates at no additional cost over what a relative would charge. Our experience assures timely and cost-saving administration of your estate and our estate and tax-preparation experience lets us settle your estate without unnecessary delay.
Agency and Custody Accounts
Agency and Custody Accounts provide valuable record-keeping services. Portfolio management services are also available for an agency account.
Unified Credit or Bypass Trust
The trust may generally pay income to the surviving spouse until he or she dies, and it may distribute principal to family members or others named as trust beneficiaries. At the death of the surviving spouse, the assets can pass directly to trust beneficiaries or be managed in the trust for their benefit. These trusts can prevent married couples from losing the value of the applicable credit of the first spouse to die.
If you wish to obtain additional information regarding our Trust and Asset Management services, you can contact us by phone at (920) 885-2700 or by email at: kheim@anbnet.com or joathout@anbnet.com.
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