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Trust and Estate Services
  

The First National Bank of Ottawa Trust Department provides experienced and professional trust and estate services, all within the confines of your community bank.  Trust and estate administration is our full-time job.  From the extensive experience of our trust department staff to the technological systems for asset management, The First National Bank of Ottawa offers unparalleled fiduciary services, all in a community bank setting.

Services offered by The First National Bank of Ottawa Trust Department include:

Personal and Fiduciary Services

The First National Bank of Ottawa offers a full-line of personal and fiduciary services that will assist with your estate planning needs.  When you choose The First National Bank of Ottawa as a trustee, you are choosing a corporate fiduciary experienced in handling numerous types of trusts and estates issues.  Personal and fiduciary services include: 

 

 

 

 

Shannon Stevens
Chief Trust Officer


Kevin Steward
Trust Officer

 
Paul Marshall
Trust Officer / Farm Manager
 

 

 

 

 

 

 

 

 

 

   
Living Trusts

A revocable living trust provides an adaptable framework for management of family funds now and in the future.  The First National Bank of Ottawa can serve as trustee of your living trust, taking on the responsibilities of managing your financial affairs now and in the future.  We listen to you and follow your instructions as set forth in the written trust agreement.  The trust protects your finances in case of incapacity, and directs how assets should be handled and managed upon your death.  Living trusts also provide you with financial privacy at your death.        

Testamentary Trusts

A testamentary trust is established in the last will and testament of an individual.  Unlike a living trust, a testamentary trust is not funded until the death of the individual.  The First National Bank of Ottawa serves as trustee of such trusts, investing and distributing funds as presented in the individual’s will.

Special Needs Trusts

Those who care for someone with special needs know how important it is to have financial resources to care for that individual.  A special needs trust allows an individual to receive government benefits while also receiving supplemental support from the special needs trust, so long as the trust is drafted consistently with governmental guidelines.  The First National Bank of Ottawa is experienced at serving as trustee of special needs trusts. 

Charitable Trusts

Charitable trusts are a great mechanism to support charitable causes important to an individual, all the while providing important tax advantages.  The First National Bank of Ottawa serves as trustee of numerous charitable trusts and can discuss with you options to set up your own charitable trusts.

Land Trusts

Illinois has allowed the use of land trusts for more than 100 years, and The First National Bank of Ottawa is experienced at serving as trustees of such trusts.  In a land trust, the trustee holds title of land for the beneficial interests of others.  The benefits of placing land in a land trust include conservation, ease of administration when property is owned by numerous parties, and maintaining privacy of ownership. 

Life Insurance Trusts

The First National Bank of Ottawa serves as trustee of life insurance trusts, where the trust serves as both the owner and beneficiary of a life insurance policy.  Upon the death of the insured, The First National Bank of Ottawa serves as trustee and distributes the insurance proceeds to beneficiaries as directed by the trust document.

Guardianship of Estate

The First National Bank of Ottawa serves as guardianship of estates when so directed by courts.

Estate Settlement (Executor/Administrator of Estate)

Serving as an executor can be a difficult, time-consuming experience.  The First National Bank of Ottawa has extensive experience in estate administration, including collection and safeguarding of assets, selling property, distribution to beneficiaries, and preparation of final tax returns.

Property Power of Attorney  

The First National Bank of Ottawa can serve as your property power of attorney. 

Investment Management Agency Accounts         

An investment management agency account with First National Bank of Ottawa means having a long-standing institutional investor manage your funds.  The funds belong to you, but The First National Bank of Ottawa acts as your agent to invest the funds.  The First National Bank of Ottawa realizes that every investment management agency account is unique and each account is treated so.  We examine your objectives and needs when determining where to place your assets, as well as draw upon numerous research resources to find the right assets for your account. Benefits of an investment management agency account with The First National Bank of Ottawa include freeing you from the day-to-day hassle of managing your own portfolio and having an institutional investor manage your funds.

Bill Paying Agency Accounts 

Whether you or a loved one need assistance paying bills, The First National Bank of Ottawa’s bill paying agency accounts can help.  We collect, manage and pay your bills, removing the burden of everyday financial matters. 

Investment Custody Services

The First National Bank of Ottawa provides custodial services involving safekeeping of assets, and collection of interest and dividends.  We also serve as custodian of self-directed IRAs.  

Corporate Fiduciary Accounts

The First National Bank of Ottawa Trust Department serves as bond registrar and paying agent for municipal and public school bond issues, and can serve as corporate trustee. 

Farm Management Services 

The First National Bank of Ottawa provides a full-array of farm management services.  By becoming familiar with you, your farm, and expectations for the farm operation, The First National Bank of Ottawa can relieve you from the stress of farm management, while maximizing the use of your land.  Farm services include:

  • Negotiation of lease agreements and discussing with you the leasing alternative and financial benefits
  • Consideration of optimum crop rotations, tillage practices and compliance with government regulations
  • Market commodities
  • Farm Inspection
  • Monitor participation and compliance with government programs
  • Work with chemical applicator to maintain required pesticide usage documents
  • Recommend and make sure appropriate measures for land use restrictions are implemented
  • Monitor program for soil testing and long term fertility improvement
  • Suggestions for improvement and maintenance of property
  • Keep farm owner up-to-date and informed of decisions

 

First Ottawa Bancshares, Inc. is the parent company of The First National Bank of Ottawa and its Branches: The First National Bank of Ottawa - Northfield, The First National Bank of Ottawa - Plaza,
The First National Bank of Ottawa - South, First National Bank - Morris, Streator National Bank, and First National Bank - Yorkville. First Ottawa Financial Services is a division of The First National Bank of Ottawa.

"Newest Ideas in Banking"
Main Facility: 701 LaSalle Street, Ottawa, Illinois 61350
815-434-0044

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