Putnam patriot., 1927-04-01
CITIZENS NATIONAL
 ADDS TRUST DEPT.
Official Points Out Advantages of Corporate Fiduciary Over
 the Individual
Scope of Institution ls Materially
 Proadened

 i Added facilities have enabled the Citizens National Bank to effer an added servIce to the people of this community through it's recently an nounced trust department. The pur- pose of the new department, accord ing Co an official of the bank, IS an increased scope of service prompted by a desire to meet the needs of the people and the requirements of busi- ness enterprises in this community
 Perhaps the most important func- ton of the new department will be that of acting as exeeutor and trustee under wills. Some of the advantages of corporate fidueiary over the indi- vidual as trustee are given as fol- lows.
 First-T Their records are complete and the assets of all estates must be segregated from the assets of the banking department and are prefer red claims.
 Second-A corporate tiduciary has perpetual existence. Ii never dies. The trust IS therefore assured of a continuity of management such as is not to be had under the individual trusteeship.
 Available at All Times
 Third-Thc corporate fiduciary is accessible at all times during business hours as ii has an established place of business, does not become il, does not travel or take vacations, and is not called out of town. Any of these causes that may render the individual fiduciary unavailable at times when the interests of the trust demand inn mediate attention.
 Fourth-The corporate fiduciary provides officers and employees to do trust work and Go attend to the trust affairs. It brings to bear the combin- ed judgment of group of trained men, greater safeguard than the judgment of a single trustee. While there are men trained in affairs fully competent to act as trustees and who : will devote the necessary time to the trust. providing they live. yet such 2 men are relatively scarce. lt has been i. shown by experience that men of great 2 ability, even geniuses, have been un- . satisfactory as trustees.
 Fifth-The corporate tiduclary is i. properly equipped lt has records forms. clerical service. and proper de. posit facilities Co handle the details of the trust in an orderly and efficient manner. The individual may possibly provide these essentials, but fl so it F . at the expense of the trust
 Sixth-There sometime arise occa sions when the advance af funds | the trust becomes necessary to pre : serve the whole or part of the es H .4 4. #F4 | ? position Co make such advances au' will do so if properly secured I'm
 can be done by few individual hduei z aries.
 Combined Judgment ! Seventh The familiarity with n :, vestmeuts is another feature. Genera
 business experience should be of som f value when considering investments . but often it Is not Risks proper Il f the business world are often lmprope h in the use of trust funds. In the trus
 department of q corporation invest
 ments are discussed by several official and final decision rendered by < trust committee. bringing to bear tn e combined judgment of several ahl O men.
 f Eighth-The economy feature i also outstanding The fees of th ii fidaeiary are fixed hy statute or b f. court allowance and are exactly th
 same regardless of whether the tidu
 ciary be an individual or a corpora
 tion. In other respects the corporal C handling of trusts and estates cost
 less. Ne bond being required of n coi ;, porate trustee. s one illustration q
 this saving.
 - Ninth-lmpartiality is a factor I f the handling by trust department Where the individual is often hamper
 ed by the iealousics and prejudices be
 tween the iiduciary and one or more a e the beneficiaries, no such situation rf : tards the handling uf matters by corporate idueiary it administer
 the trust as a strictly business com , mission entrusted ta tt and follow
 strictly the instructions in the instru
 ment creating the trust
 The official of the bank states tha
 it has always been ts policy to cooper
 ate with he patraH iH 2 ry way am
 that the new tfesl department #ili b
 operated oH the same principle and ai
 active personal Htef will be show
 in its deallaps depaFtmen
 offers fhe following a.rNiecs; Acts a
 trustee. eNecutor aemnistrator, reg
 istfar of stocks and hands, guardian