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Southern Heritage Bank is a division of FIRST CITIZENS NATIONAL BANK

Testamentary Trusts

If you are planning a will and thinking about how to distribute assets to your loved ones, you may want to establish a testamentary trust.

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A testamentary trust is created by a will to establish great control over how assets are distributed to heirs after a person dies. They are also designed to provide tax advantages, such as splitting assets between a spouse and children, to maximize the estate tax exemption amount.
  • May offer tax advantages (consult your tax advisor)
  • May provide a source of income for surviving spouse
  • Can be designed to provide for specific family needs
  • Minimum opening deposit of $100
  • $5 monthly fee if average balance is below $7,500
  • $4.99 monthly fee for online banking
  • $9.99 monthly fee for online banking with bill pay
  • Small fee of $.10 per item for each debit over 100
  • Balance requirement fee and per item fee for debits paid are waived for non-profit organizations

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