Personal trust services offered by Ameriprise Bank, FSB

Trusts are often the outcome of a well-thought out estate plan. They allow you to direct how your assets are managed during your life and after your death - and aren't just for the wealthy. 

Trusts can be used in a variety of ways including: 

  • Controlling asset distributions (especially for minor children) over time
  • Protecting heirs from family disputes
  • Providing for a disabled or special needs family member
  • Charitable donations 
  • Managing assets in the event you become incapacitated

How we can help

Creating a trust is a collaborative effort involving you, an Ameriprise Financial advisor, and tax and estate lawyers. Ameriprise Bank, FSB provides professional fiduciary services to help ensure the legacy you desire is carried out according to your wishes. 

We can take care of the step-by-step details of maintaining, monitoring and reporting for you, including: 

Administration Accounting and tax reporting
Maintain thorough records Tracking and reporting trust principal and income accounting
Providing required statements to beneficiaries Preparing and filing fiduciary income tax returns
Gathering and updating information on all trust beneficiaries Collecting income from trust assets
Paying bills Disbursing funds in accordance with the trust agreement
Managing service level agreements defined by the client Providing tax reporting to beneficiaries

Ameriprise trust solutions

Revocable trusts provide the most flexible options:

  • Alter, amend, or revoke the trust terms whenever you choose
  • Provide privacy and help simplify your estate settlement – particularly if you own property in more than one state
  • Helpful if you are injured or incapacitated and can't manage your own financial affairs

Irrevocable trusts cannot be changed once established, but offer these benefits:

  • Provide estate tax savings or liability protection for family members
  • Reduce the size of your estate by gifting assets to your family via the trust
  • Fundable during your life as well as after your death

Created as part of your will, testamentary trusts only take effect after your passing.

  • May help reduce estate taxes
  • Enable you to exercise control over how your assets will be used after your death

Charitable trusts are irrevocable trusts designed to ultimately benefit a chosen charity.

  • Defer capital gains taxes on appreciated assets
  • Reduce your estate tax liability and provide an income stream for you or another individual

Specialty trusts are used in unique circumstances:

  • Special needs/supplemental trusts can provide for heirs with physical or developmental disabilities
  • To protect the interests of unmarried life partners
  • Also, if you use a professional trustee, a specialty trust can help ensure the tax deferral of your IRA assets for your heirs after your death