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Estate Settlement

Estate Settlement

When an individual dies, their estate is distributed according to state law and provisions they made in advance. The estate is generally made up of all the property at the time of death. The settling of an estate is designed to accomplish three things. The first is to determine what assets are owned by the deceased and place a value on those assets. Next is to transfer the assets to the designated beneficiaries or institutions and third is to pay any taxes that may be due. The estate settlement process can be accomplished with either a will or a trust.

If you have been appointed as an executor and believe the responsibility will be too difficult or time consuming, First National Bank & Trust may be able to help. We may be able to act on your behalf to complete the estate settlement process and assume the responsibility of administering a trust that has been established.

First National Bank & Trust can help answer the questions you may have regarding estate settlement should you be named the executor of an individual’s estate. We can help you decide whether to obtain additional assistance from local professionals in legal and tax areas. We welcome the opportunity to sit down with you to show how our services can benefit you.

Schedule an appointment with one of our trust administrators in Iron Mountain, Marquette or Menominee.

 

 

 

 

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Latest Blog Posts

How Do I Know if a Financial Professional is the Right Fit?

Submitted by First National Trust & Wealth Management on May 26th, 2022

How do you know if your financial professional is the right person to manage your life savings? It’s an important decision and choosing the person (or team) that will help you pursue your financial goals can be tough. It pays to shop around to find the right professional for you and your family. Here are some tips to see if a financial professional is a good fit.

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The New Normal Retirement

Submitted by First National Trust & Wealth Management on April 15th, 2022

It’s believed that retirement planning as we currently know it didn’t really exist until a few decades ago. Up to that point, people worked until 65 and then sailed into retirement on a pension plan.

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William & Margaret Trudell 2022-2023 Scholarship Application

Submitted by First National Trust & Wealth Management on February 1st, 2022

The William & Margaret Trudell Scholarship board of trustees is pleased to announce that applications are now being accepted for the 2022-2023 school year for qualified students enrolled at the Iron Mountain campus of Bay College.  Since its inception in 2004, the Trudell Scholarship has provided over $80,000 to over eighty deserving students of the Bay College West Campus.&n

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Iron Mountain
233 South Stephenson Ave. 
Iron Mountain, MI 49801

Menominee
3805 10th Street
Menominee, MI 49858

Marquette
3165 Wright St. Suite 104
Marquette, MI 49855

Iron River
901 Riverside Plaza
Iron River, MI 49935

 

  Tel: 877-779-2259

Non-deposit investment products, insurance, and securities are NOT deposits or obligations of, insured or guaranteed by The First National Bank & Trust of Iron Mountain, are NOT insured by the FDIC or any agency of the United States, and involve INVESTMENT RISK, including POSSIBLE LOSS OF VALUE. First National Trust and Wealth Management does not give tax or legal advice. Consult with your tax and/or legal advisor for information specific to your situation.

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