RSNB Bank began offering trust services in the early 1900s. RSNB Bank offers a wide array of trust and trust-related services which are designed to meet a variety of needs.
RSNB Bank acts in the following capacities in providing trust services:
- Executor (Personal Representative)
- Administrator (Personal Representative)
- Court-appointed Conservator
As RSNB Bank acts in various capacities, the bank performs the following trust-related services:
As a trustee, the Bank safeguards and manages assets according to the specifications of a grantor, or creator, as outlined in a trust document. In designating the Bank as trustee, the grantor of the trust is able to rely on the expertise and objectivity of the Bank in administering the trust. The Bank also has third-party relationships with trust attorneys and certified public accountants to resolve legal and tax issues and to provide tax preparation services.
In a co-trustee relationship, the Bank is able to blend its expertise and objectivity as a corporate trustee with the familiarity and security of a responsible family member or friend.
As an agent, the Bank acts similar to a trustee. However, an agent cannot own trust assets and has less fiduciary responsibility than a trustee.
An executor is named in a will by a deceased person and appointed by a court. As executor, the Bank is responsible for settling the estate of a deceased person, including gathering and safeguarding assets, paying expenses and debts and distributing assets in accordance with the will.
An administrator is appointed by a court when person dies "intestate" or without a will. As administrator, the Bank is responsible for settling the estate of a deceased person, including gathering and safeguarding assets, paying expenses and debts and distributing assets in accordance with laws of the State of Wyoming.
As a court-appointed conservator, the Bank safeguards and manages the assets of a living person, most commonly a minor or an incompetent individual.
As custodian, the Bank takes physical possession of the assets of a living person and investments or otherwise manages the assets in accordance with the instructions or intent of the owner.
Through asset management services, the Bank manages real estate, sells assets, locates and corresponds with beneficiaries and provides incidental services such as appraisals, title transfers, etc.
Through asset distribution services, the Bank makes final distribution of assets of an estate or trust to intended beneficiaries.
Through bill payment and payroll services, the Bank receives and pays monthly bills, and prepares payroll distributions, normally for household help. These services are particularly convenient for elderly or infirm customers who do not have a relative or friend willing or able to ensure that routine bills are paid on a timely basis and that payroll disbursements are properly prepared and distributed.
Trusts often contain cash, bonds, stocks, mutual funds and/or other financial assets. Through investment portfolio management services, the Bank determines whether investments are compatible with the objectives of a trust and seeks to prudently maximize the return on the investment portfolio.
Services, securities, annuities, insurance, and other investments offered through RSNB Bank are not FDIC-insured, are not deposits or obligations of nor guaranteed by RSNB Bank or any of their affiliates. These products are subject to investment risk, including possible loss of value, including the full amount invested, and are not insured by any federal government agency.