Trust Department

Welcome

Walter Murray
Trust Officer

Good day, I’m Walter A. Murray, Jr. the Trust Officer of the Bank of Sullivan. The Trust Department is here to assist you in the development of your trust and to manage your trust when that is your desire. The Bank of Sullivan has operated the Trust Department since 1994 and is the only bank in the area with an active trust department.

We offer our customers friendly personal services, prompt handling of trusts and estates, confidentiality of information, and expert investment advice. We will work with you and your attorney in the development of your will and trust to reassure you that they fit your individual needs. We will help you transfer your investments into your trust. Then follow up with annual reviews and consider any changes due to your situation or because of changes in the laws affecting you.

The Trust Department of the Bank of Sullivan offers continuity, trained professionals, impartiality, accuracy and regulated supervision. The Trust Department is available to you every working day of the year. Our employees are trained to provide expert services. Because the Trust Department is impartial each beneficiary’s interest is protected. Timely records and thorough information are provided in compliance with all laws. The Bank of Sullivan is regulated and audited to insure that all laws, rules, and regulations are followed.

We would be happy to discuss the establishment of a trust with you. Just call for an appointment. Remember, if you need a trust, trust the Bank of Sullivan.

Thanks for visiting our web site,

Walter A. Murray, Jr.

WHAT IS A LIVING TRUST

A living trust is a legal document executed by you which contains the terms of the trust. A trust establishes a plan for the handling of your assets during your life and distribution of your assets after your death. The trustee has the responsibility to follow your plan.

ADVANTAGES & BENEFITS OF A TRUST

• Avoid costly and time consuming probate
• Avoid conservatorship
• Maintain privacy for your family
• Maintain flexibility
• Maintain continuity
• Protect yourself in the event of your incapacity
• Eliminate or greatly reduce estate tax
• Relieves you from record keeping details
• You benefit from investment expertise
• Achieve security and peace of mind
• Name Trustee for minor children or grandchildren

OUR CUSTOMARY SERVICES

• Investment and management of assets
• Custody and safe keeping of trust assets
• Collection of dividends, interest, and other income
• Automatic investment of cash balances
• Monthly payments to beneficiaries
• Monthly transaction statements and investment reviews
• Regular meeting with the Trust Officer
• Preparation and filing of required fiduciary income tax returns*
• Year-end income tax information for beneficiaries*

ADVANTAGES OF THE BANK OF SULLIVAN VERSUS AN INDIVIDUAL FIDUCIARY

Continuity - The Bank of Sullivan’s Trust Department will be available to you every working day of the year. Individual trustees may die or be unable to serve at the very time services are most needed. The Bank of Sullivan does not go on vacation, get sick, or be otherwise unable to serve you.

Trained Professionals - The Trust Department has trained professional employees to provide expert services.

Impartiality - Each beneficiary’s interest is protected by the Trust Department during the administration of your trust.

Accuracy - The Trust Department provides thorough information and timely records in compliance with all laws.

Regulated Supervision - The trustee must “do it right”. The Trust Department is regularly examined by governmental agencies to assure that the terms of the trust are being administered properly. Also the bank’s own internal auditors annually review all procedures and policies.

*Additional charges may be assessed if special expenses are incurred for outside professional services or for extraordinary services either requested or required.