Trusts

Investments through the Trust and Investment Services Department are not FDIC insured – may lose value – Not guaranteed by First Bank Richmond, NA.

Living Trust

A trust established during one’s life. It is a vehicle used for managing assets while living, including any periods of physical or mental incapacity.

  • Allows you to control your assets during your lifetime and beyond
  • Provides you with a greater degree of control and privacy
  • As your trustee, First Bank will administer your assets for your benefit during your lifetime and for the benefit of your beneficiaries thereafter.
  • You may revoke the trust at any time
  • At your death, the assets, or income, pass automatically to your beneficiaries without the necessity of probate
  • Avoid the delays, expense, and the publicity of probate

Testamentary Trust

A trust created as part of the provisions of your will to assure the long-term fulfillment of your wishes and the ongoing needs of your spouse and family.

  • First Bank will invest trust assets to provide continuing income to your beneficiaries.
  • Minimize estate and income taxes
  • Provide for heirs who may not be able to manage for themselves
  • Determine when and how the assets will be distributed

Charitable Remainder Trust

For customers who are charitably inclined, as well as for foundation and endowment management. Our services will help to protect and preserve contributions and grow the assets of the endowment. Services include:

  • Investment and administration of charitable remainder trust
  • Endowment plan design and management
  • Professional investment management of trust and endowment funds
  • Record-keeping, reporting and distributions from charitable remainder trusts
  • Custody service for trust and endowment management
  • Development of written investment guidelines

Irrevocable Life Insurance Trust

For customers who wish to use life insurance for wealth replacement and as a tool for solving federal estate tax problems. Life insurance is held in an irrevocable life insurance trust. The proceeds of the death benefit are not subject to estate tax in most cases. Benefits include:

  • Wealth replacement
  • Liquidity to pay estate tax and settlement costs
  • Financial support for family members
  • No federal estate tax on policy proceeds
  • Investment management of policy proceeds received by the beneficiaries

Online Banking

Did You Know?

You can deposit checks online using a scanner. You can deposit checks online.
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Dept. Contacts

For more information on these products or to schedule an appointment, contact any of our trust and investment professionals.

Alan Spears
Senior Vice President
Senior Trust Officer
31 North 9th Street
Richmond, IN 47374
(765) 973-4209
(800) 548-8138, ext. 209
aspears@firstbankrichmond.com

Christy Evans
Administrative Assistant
Trust and Investment Services
31 North 9th Street
Richmond, IN 47374
(765) 973-4208
(800) 548-8138, ext. 208
cevans@firstbankrichmond.com

Note: Please do not include any personal or account information when submitting an e-mail. E-mail messages are not encrypted. If you need to give personal or account information, please telephone us or stop by one of our convenient locations.