Trust & Estate Planning

Preparation for peace of mind

Give your financial wellbeing the advantage of specialized knowledge and expertise. Our trust team of seasoned trust professionals and attorneys can guide you to a plan that respects your individual style for risk tolerance while protecting your assets and minimizing tax liability.

Once your trust or estate plan is in place, we administer it to meet your desired goals using our breadth of experience and knowledge in trust and the law. To get started, contact a member of our trust team based at our Sun Prairie - West Grand Avenue location.

Your Wealth Management Team

Trust services

Our trust practice offers administration of a wide range of asset management accounts, including:

IOLTA

Bank of Sun Prairie is a Prime Partner in WisTAF's Interest on Lawyer's Trust Accounts (IOLTA) program, ensuring all Wisconsinites may access legal advice or representation when needed. Contact Bank of Sun Prairie for more information.

Grantor Trusts

A trust where the grantor (creator of the trust) or other owner retains the power to control or direct the trust’s income or assets. These trusts can be amended or revoked during the individual’s lifetime.

Testamentary Trusts

A trust created by a will that begins upon the death of the person making the will when property is transferred from the decedent’s estate. The trustee has the responsibility for the management of the assets received during the term of the trust.

Irrevocable Trusts

A non-grantor trust is one that the IRS treats as a separate taxing entity from the grantor. These trusts cannot be modified or terminated without the permission of the beneficiary of the trust.

Agency

An agent is a person or institution given authority by an individual to act in his/her place on financial matters. Title of assets in the Agency does not pass to the trustee but remains in the name of the owner of the property.

Guardianships

The position of being legally responsible for the care of someone who is unable to manage their own affairs. In the case of the trust department at Bank of Sun Prairie, we can be named Guardian of the Finances. (We do not take on the role of Guardian of the Person.)

Conservatorships

Institution (or person) designated to take over and protect the interests of an incompetent person. When someone is mentally or physically unable to take care of their own basic needs (e.g., food, clothing, shelter), then a conservatorship may be appropriate.

Estates

Estates are assets and liabilities left by a person at death. The Bank of Sun Prairie can be named as the Personal Representative for an Estate. A Personal Representative carries out the wishes and property distribution of a deceased person.

Estate Planning

Short Course

Individual Retirement Accounts

IRAs are government-sponsored, tax-deferred personal retirement plan. The Bank of Sun Prairie provides both self-directed and managed IRA accounts.

Qualified Retirement Accounts

A qualified retirement account is one that is described in section 401(a) of the tax code, the most common being pensions and profit-sharing plans.

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