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Comparison of Account Services and Trust Type

Quick Comparison of Account Services

Type of Account Service

Custody Investment Management Account Revocable Trust
Professional, full-time supervision for your invested funds NO YES YES
We act on your behalf or submit recommendations for your approval, as you prefer NO YES YES
Collection of income, record-keeping and periodic reports YES YES YES
Freedom to change your instructions or cancel the service YES YES YES
Safekeeping of assets, consolidated tax reporting YES YES YES
Lifetime protection, making it possible for us to use principal and income for your benefit, pay bills and attend to other financial matters in the event of your incapacity NO NO YES
Continuity of service for the benefit of others following your death, without “probate” delays NO NO YES
Reduction in expenses relating to settlement of your estate NO NO YES
Opportunity to save estate taxes at death of surviving spouse or other beneficiaries you have named NO NO YES

Quick Comparison of Account & Trust Types

Type of Account Tax Advantages Benefits
Custody None Easy to set up, consolidated record-keeping, retained investment authority
Investment Management Account None Easy to set up, receive professional investment advice or asset management services
Revocable Trust None Provides professional asset management, continuous financial protection upon incapacity, avoids probate in many states, can continue for other beneficiaries
Marital Deduction Trust Full federal estate tax deferral in most cases Spouse receives lifetime trust income, may direct ultimate distribution of trust assets.
Qualified Terminable Interest Property Trust (QTIP Trust) Full estate tax deferral Spouse receives lifetime income, appropriate for “blended families” – children’s interest normally can’t be changed by spouse
Bypass Trust No federal estate tax, possibly for decades Up to $5.49 million protected in 2017 (subject to unified credit limits set by federal government) with commensurate federal estate tax savings
Spendthrift Trust None Trust Assets are protected from the beneficiary’s creditors
Special Needs Trust None May provide for enhanced quality of life while permitting continued government benefits.
Generation Skipping Trust No generation-skipping tax added to estate tax, can possibly be protected for generations Up to $5.49 million protected in 2017 (subject to limits set by federal government) with commensurate federal estate tax savings
Charitable Remainder Trust Income, gift and estate tax deductions Tax advantages make philanthropic goals easier to achieve

Please note that all of the above are but brief descriptions of the comprehensive services provided by our Trust Department. Please contact Pennian Wealth Management Group at 717-436-2144.

Depending on the type of investment, your investment may be subject to fluctuations in market value. It is important to note that investments with the Trust Department are not FDIC insured. Investments with the trust department are not a deposit, not guaranteed by the bank, and not insured by any federal government agency and can be subject to a loss of principal.

If you have questions or need additional information on Trust, Financial and Retirement Services, please contact Pennian Wealth Management Group by calling 717-436-2144.