Trust & Fiduciary Services
Do You Need A Trust?
A trust is a legal entity created to accomplish any number of specific goals. A trust can avoid probate and pass your assets quickly and privately to your heirs. A trust can provide management of your assets if you're incapacitated. Parents may set up a trust to provide for the future needs of their children or grandchildren. A couple may set up a trust to protect their assets from estate tax. Charitable individuals may set up a trust that pays lifetime income, and then passes assets to charity after their death. The list goes on and on. Bar Harbor Trust Services can help you assess your situation, and help you determine if a trust would help you achieve your goals.
Do You Need A Professional Trustee?
A trustee is responsible for overall management of your trust and its assets. You might choose to serve as your own trustee. This is often appropriate when your trust is simple and will not extend beyond your lifetime. Very often, however, a trust is set up to provide tax benefits, or is intended to benefit children and future generations. In these cases, you are often best served with a professional trustee. Bar Harbor Trust Services can help you achieve goals that can only be achieved with a trust. As your trustee we provide professional investment management, record keeping, tax reporting, and face-to-face service. We'll manage your trust in accordance with your wishes, the trust document, and with the best interest of your beneficiaries in mind.
Bar Harbor Trust Services is a subsidiary of Bar Harbor Bank & Trust. Investment products are not deposits or obligations of the Bank, are not FDIC insured, are not guaranteed by Bank and are subject to investment risk, including possible loss of value or principal amount invested.