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
  • Maintain thorough records
  • Providing required statements to beneficiaries
  • Gathering and updating information on all trust beneficiaries
  • Paying bills
  • Managing service level agreements defined by the client
Accounting and tax reporting
  • Tracking and reporting trust principal and income accounting
  • Preparing and filing fiduciary income tax returns
  • Collecting income from trust assets
  • Disbursing funds in accordance with the trust agreement
  • 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
Ameriprise Bank, FSB works with other subsidiaries of Ameriprise Financial, Inc., including Ameriprise Financial Services, LLC. (AFS), to offer a broad range of financial products and services. Ameriprise Bank, FSB and its affiliates provide written disclosures that describe these relationships and the potential conflicts of interest that may exist among the bank, AFS financial advisors and/or its affiliated companies in the Ameriprise Financial Client Relationship Guide, Ameriprise Managed Accounts Client Disclosure Brochure and Ameriprise Financial Planning Service Client Disclosure Brochure. These documents clearly describe the revenues received by AFS and its affiliates and the sources of those revenues, as well as the sources of compensation received by AFS financial advisors. For additional important information and disclosures, please reference Ameriprise Bank, FSB Disclosures Applicable to Personal Trust Services.
Ameriprise Bank, FSB provides deposit, lending, and personal trust products and services to its customers, including clients of Ameriprise Financial Services, LLC. (“AFS”). Ameriprise Bank, FSB and AFS are subsidiaries of Ameriprise Financial, Inc. AFS financial advisors may receive compensation for selling bank products. 
Neither Ameriprise Bank, FSB nor AFS financial advisors are authorized to give legal or tax advice. For specific legal or tax matters, clients should consult with their own legal and/or tax advisors.
Investment products made available through AFS are not FDIC insured, are not deposits or other obligations of Ameriprise Bank, FSB and are not guaranteed by Ameriprise Bank, FSB, and are subject to investment risks, including possible loss of principal invested.
 
Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser.     
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