Then we will continue to monitor and adjust your investments throughout the year, giving you regular reports on your plan's investment activity. All activity is reported to you through regular updates. You will get detailed information on contributions, sales and purchases of trust assets and any disbursements made from the plan. In addition, we offer complete distribution services including check payments to beneficiaries and tax filing and reporting. Effective succession planning should begin long before retirement is imminent.
Proper planning is key.
It is the only way to maintain control of the estate while transferring assets out of the estate. When done right, the business owner will always be in a position to decide when and how much control they want to give up. Anytime funds must be held until an event occurs, Fairfield National Bank can act as the escrow agent on the transaction. Using an independent, credible agent like Fairfield National gives all parties involved the assurance that funds will be released for the intended purposes and in the prescribed time frame. Anytime excess funds exist and liquidity is a concern, Fairfield National can be summoned to manage those funds for the best return.