First National Bank
First National Bank of Fort Smith
P. O. Box 7
Fort Smith, Arkansas 72902
Tel: 479-788-4600 (Call Center)
Call Center Hours:
7:00 a.m. - 6:00 p.m. Mon-Fri
9:00 a.m. - 2:00 p.m. Sat
P. O. Box 7
Fort Smith, Arkansas 72902
Tel: 479-788-4600 (Call Center)
Call Center Hours:
7:00 a.m. - 6:00 p.m. Mon-Fri
9:00 a.m. - 2:00 p.m. Sat
Estate Planning
Tools
Our Trust Department can provide information and insights into the most up-to-date estate planning tools, including:
Our Trust Department can provide information and insights into the most up-to-date estate planning tools, including:
- Marital deduction and by-pass trusts to provide for
exemption
of the maximum amount allowed by law to be sheltered from estate taxes,
including any appreciation of the assets contained in the by-pass trust.
- Charitable gifts during life or at death to provide for
immediate
income tax savings and for reduction of the taxable estate at death.
- Joint Revocable Trusts which, if certain provisions are
included,
can reduce the payment of estate taxes upon the death of both
the first and second spouse to die.
- Grantor Retained Interests, which are irrevocable trusts
into which
the grantor places assets and retains income or the use of property
for a fixed period of years. By doing so, the grantor makes a current
gift of the right to trust assets to a remainderman at a specified date
in the future. If the grantor survives the term selected, significant tax
and other transfer cost reductions can be realized.
- Section 2503(b), 2503(c) and Uniform Gifts to Minors.
These are methods for making gifts to minors in trust and
obtain the annual gift tax exclusion.
- A Life Insurance Trust, if it is irrevocable and contains
certain provisions,
can provide for life insurance proceeds at the death of the settlor which
are not included in the settlor's estate.