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TRUST SERVICES
Custody Accounts 
A custodian of your investments relieves you from the routine duties associated with the management of those investments such as bookkeeping and safekeeping responsibilities.  By providing this assistance, the custodian assumes the job of handling the securities and provides accountings of the investment and cash transactions that you or your investment advisor initiate.  The service does not provide investment advice and counseling, but rather the bank, as custodian, acts only at your direction. 
  • Collect and maintain assets in safekeeping
  • Work with investment advisors or brokers in transacting trades
  • Disburse cash and assets as directed by account owner
  • Furnish tax information for assistance in preparing personal income tax returns
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    Investment Management Accounts 
    The bank, as agent, becomes your investment advisor, custodian of assets and provides you with an accounting of all transactions that occur.  In an agency account, the owner may assign the bank full responsibility for investment decisions or share the responsibility with the bank.  When sharing the responsibility, no investment changes are made without the approval of the account owner. 
  • Determine investment objectives of account owner
  • Management of property
  • Disburse cash and investments as directed by account owner
  • Supply quarterly reports to account owner
  • Create tax information for assistance in preparing personal income tax returns
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    Conservatorship 
    A Conservatorship is established for the management of property and investments for individuals who are unable to manage their financial affairs.  The Conservatorship may be either a voluntary or involuntary arrangement.  The Conservatorship is established by court order to provide benefits for the ward.  Once established, the conservator manages all income and disbursements. 
  • Manage property and investments for individuals who are not able to manage their financial affairs
  • Prepare initial inventory of conservatorship
  • Supply yearly accounting for court reports
  • Generate tax detail worksheet for assistance in preparing ward’s yearly tax returns
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    Personal Representative of Estates 
    By naming KSB Bank Trust Department as executor in your will we will settle your estate in accordance with your instructions.  As a personal representative, the bank is responsible for the protection, management and distribution of the estate assets and liabilities including determining their values, paying debts and taxes and dividing the estate according to your Will or applicable law. 
  • Collecting all assets including insurance proceeds payable to estate
  • Assist attorney with inventory of all assets with date of death valuations
  • Assist attorney with preparation of Federal and State Fiduciary Income Tax returns
  • Supply information for completion of Federal Estate and Iowa Inheritance Tax returns
  • Distribute assets as designated in you Last Will and Testament
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    Testamentary Trust 
    A Testamentary Trust is established under the Will of a deceased individual.  It is an agreement between the testator of the Will and trustee.  This type of trust can be established to provide benefits for a spouse, children or any beneficiary who has been selected by the testator. 
  • Manage testator’s property and investments as stipulated in the Will
  • Furnish regular investment reports to trust beneficiaries
  • Assist attorney in preparing fiduciary Income Tax Returns for trust
  • Distribute income and principal to beneficiaries as required by trust agreement
  • Supply beneficiaries with regular accounting statements that detail all receipts and disbursements of the trust
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    Living Trust 
    A Living Trust is established for the management of property and investments.  It is an agreement between the grantor of the trust and the trustee.  A Living Trust can be changed or terminated at any time.  This enables the trust to be altered to meet changing circumstances that might occur.  Assets titled in the name of the living trust avoid probate. 
  • Management of property and investments
  • Provide quarterly (or more frequent) reports to the Trust Grantor
  • Generate tax detail worksheet for assistance in preparing grantor’s yearly tax returns
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    Self-Directed IRA Accounts 
    This IRA allows a depositor to invest in assets other than bank Time Certificates of Deposit.  Assets such as stocks, bonds and mutual funds may be purchased for a Self-Directed IRA at the direction of the account owner. 
  • Supply IRS approved documents to establish Self-Directed IRA Accounts
  • Furnish regular investment reports to account owner
  • Disburse funds as directed by account owner
  • Purchase investments such as stocks, bonds and mutual funds at direction of account owner
  • Generate 1099 and 5498 information for IRS and account owner

  • Some Trust products are not insured by the FDIC or by any federal government agency.  
    Some Trust products are not bank guaranteed; are subject to risk and may lose value. 
    FDIC
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