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  • Trusts, Old Point Bank

Trust Services

As a locally owned and operated company, Old Point Wealth Management provides direct, "hands on", personalized service with a teamwork approach for each trust under our administration.

A Trustee/Fiduciary's Responsibilities and/or Functions

  • Be loyal to the trust and carry out the provisions of the trust document in a fair and impartial manner.
  • Exercise prudent judgement in the management of the trust assets
  • Perform the day-to-day administration of the trust
  • Be aware of current fiduciary income tax, estate tax, gift tax, generation skipping transfer tax and their impact on the trust & beneficiaries
  • Upon termination of a trust, determine proper expenses and taxes to be paid, and distribute the trust in accordance with its terms.

Naming a Corporate Trustee

How do you ensure that trust decisions are made with an eye towards personal understanding of your beneficiaries and their needs? Some choose to name a relative or friend to succeed them as their trustee. Many individuals, though, often find managing a trust to be both complex and burdensome.

Types of Trusts & Their Goals

Our experts can assist you in determining what works best for your unique situation.

  • Revocable Living Trust (RLT)
  • Special Needs Trust
  • Testamentary Trust
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