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WNB Financial

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Personal Trust & Estate

Our goal is to provide you with peace of mind about your financial life — we want you to realize your financial dreams.

  • Client Benefits
  • Trust Accounts

Christopher Rand
Winona Downtown
Vice President, Trust Manager

Kurt Olson, J.D., CFP®
Winona Downtown
Vice President, Trust Officer

Nate Shaw
Winona Downtown
Trust Officer
Diana Bartholomew professional headshot.

Diana Bartholomew
Winona Downtown
Trust Support Specialist

Dexter Larson
Winona Downtown
Trust Investment Specialist

WNB as a Corporate Trustee

The officers and staff of WNB Financial are knowledgeable and trained in all areas of Trust Administration. By designating a Corporate Trustee, you can be assured that our office will always be there to help; unlike an individual trustee, who may become incapacitated, die prior to you, be unwilling to serve, or lack the knowledge and/or time to do so.

Irrevocable Trust

A grantor, who transfers assets to an Irrevocable Trust, effectively removes his or her right of ownership to the assets. This trust cannot be changed or terminated without the permission of the beneficiaries. The benefit of this type of trust is that it can effectively remove assets from the grantor’s taxable estate. The use of Irrevocable Trusts involves a multitude of sophisticated and complex tax rules, so let the WNB Trust Department work with you and your tax planning professional to see if this is a good option for you.

Revocable Living Trust

A Revocable Living Trust is a trust set up by a grantor during his or her lifetime that can be changed or terminated by that individual. The trust can be designed to meet the needs of the individual and can be an excellent means for asset management as well as bill paying, should the grantor become incapacitated. Revocable Living Trusts are an excellent tool for long-term planning and provide for the ability of the grantor to control assets left to beneficiaries. A properly funded trust can avoid probate, and because of its confidentiality, is not a matter of public record.

Testamentary Trust (Trust Under Will)

Upon your death, a provision within your Last Will and Testament creates a Testamentary Trust. Specific assets are turned over to a trustee for taking care of beneficiaries as you have directed. WNB Financial, as trustee, can provide peace of mind to your family by providing investment management, along with carrying out the other provisions of the trust. You have the flexibility of declaring income from the trust to be paid to a beneficiary or beneficiaries during their lifetime, after which the principal can be distributed to another beneficiary or other beneficiaries.

Charitable Trust

If philanthropy is included in your wishes, let WNB Financial assist with the establishment of a Charitable Trust. You may have assets that have experienced significant appreciation. By contributing these assets to a trust, you can turn the asset into an income generator and claim a substantial portion of your contribution as a charitable deduction on your income taxes. The Charitable Remainder Trust can distribute income payments for a specific period or over a lifetime. These income payments can begin immediately or can be deferred until you reach a certain age. When the income payments have been completed, the remaining trust assets pass to the charities you designate.

Estate Administration

The settlement of an estate can involve a demanding, complex set of tasks. Your executor is responsible for safeguarding assets of your estate, payment of debts, collection of income, filing appropriate tax returns and court documents, and making timely and accurate distributions to your beneficiaries. WNB Financial has years of experience, and we specialize in all phases of estate administration which minimizes the burden your family must face at a difficult time.

Avoid Probate Expenses

With the establishment of a Revocable Living Trust, you can avoid the expenses and time delays associated with the probate process. If all your assets are registered into the name of the Revocable Living Trust, upon your death, the assets will pass to your beneficiaries as you have designated in the trust document. A Revocable Living Trust is also confidential and is not available for public record.

Control of Assets into the Future

By creating a Trust Under Will, also known as a Testamentary Trust or a Residuary Trust, you can control what happens with your assets at the time of your death. You have a say in the eventual disposition of assets to beneficiaries you have determined. These can include a surviving spouse, children, grandchildren, siblings, charities, and others. WNB Financial, as a professional trustee, will carry out the provisions of the Trust — your wishes.

In Case of Incapacitation

As Power of Attorney, WNB Financial can handle your financial affairs in the event that you're unable to do so. The experienced staff of WNB Financial can assist with the necessary day-to-day matters such as bill paying, health insurance claims, tax preparation, as well as investment management of your assets. Emergencies are unpredictable; however, with a Power of Attorney in place, your family will not be burdened with the additional tasks of handling your financial affairs.

Power of Attorney Account

There are times when a Power of Attorney is needed to handle your financial affairs, for example, to make investments, sign checks, make deposits, pay bills, sell property, obtain insurance, file tax returns, and do all the things you do to manage your day-to-day affairs. If you're no longer able to manage your affairs or in the event of an unfortunate occurrence, WNB Financial, if named as your Power of Attorney, can ensure that your financial affairs will be taken care of in a professional manner, relieving the stress and burden on your family.

Guardian / Conservator Account

WNB Financial can be appointed by the Court to act as guardian of the estate or conservator of the estate for a child or an adult who requires assistance in handling their financial affairs. We provide financial management of assets, collection of income, bill paying, and assist with tax preparation and required annual accountings to the Court. We strive to provide the family and Guardian-of-the-Person peace of mind in knowing the financial affairs of their loved ones are handled by professionals.

Special Needs Trust

A Special Needs Trust is a trust established for the benefit of an individual with disabilities. In most cases, these individuals receive benefits from various federal, state, and local programs. Special Needs Trusts are created to provide comforts that are not provided by government programs; however, extreme care must be utilized in drafting the Trust documents to ensure the individual remains eligible for government support. WNB Financial has the administrative knowledge to act as trustee of a Special Needs Trust.

Important Notice

Some Trust products may not be FDIC Insured, a Bank Product, or have a Bank Guarantee. For more information, please contact our Trust Department.

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Our Investing Professionals will work with you to ensure your investing goals are met and your needs are taken care of.