Trust & Estate Planning You Can Trust with Your Future
Pass on what you’ve been building with confidence with the help of Bank Midwest’s trusted team and start the conversation at a location near you.
Securities and insurance products are not deposits, not FDIC insured, not insured by any federal government agency, not guaranteed by the bank, and may go down in value.
Preserve your assets for the next generation
Succession and transition planning are complicated. Without a proper plan in place, who inherits what, when, and how is unclear. You shouldn’t have to be anxious about the legacy you leave your family.
At Bank Midwest, you can work with local trust officers in your community who can help you explore your options, create a plan, and save you time and money as you preserve and designate your assets.
Making plans for your assets when you’re no longer around can be stressful. Bank Midwest’s estate planning services provide your loved ones with clear next steps to help reduce uncertainty and give clarity.
We help you establish a plan to:
- Identify and Distribute Assets – Make a plan for your assets after your death, including your business or farm, financial accounts, insurance benefits, real estate, and personal property.
- Plan for Taxes and Debts – Bank Midwest’s estate planning experts can make sure debts, taxes, and other liabilities are accounted for so your family can have peace of mind.
- Give Charitably – Support meaningful causes and charitable organizations that impact your community, all while potentially reducing financial liabilities on your family.
Whether you have modest or extensive assets, let the local team at Bank Midwest help you plan for beyond your lifetime.
You need a trusted partner to help ensure your wishes are fulfilled after you’re gone. Estate Settlement from Bank Midwest helps provide peace of mind, ensuring your assets are properly distributed and managed after your death as trustees and executors.
We provide:
- Local Expertise That Protects What You’ve Built – Thoughtful investment management and fiduciary oversight keep assets properly allocated to provide income, growth, and long-term stability for your beneficiaries.
- Objective Guidance When It Matters Most – An experienced, impartial partner to determine when, how, and to whom distributions are made, all while following the terms outlined by your will.
- Consistent, Long-Term Trust Administration – We coordinate with legal and tax professionals to ensure fair, timely administration for years or even generations.
Get a local partner that walks with you step-by-step to ensure your end-of-life decisions unfold according to your wishes during your lifetime and beyond.
Establishing a trust isn’t just for those approaching the end of life. Whether it’s your farm, your family-owned business, or your children or grandchildren’s future, we help grow, manage and transfer your assets with a plan designed for your specific needs—while also allowing for flexibility as your needs evolve.
Trusts can be beneficial for:
- Families Planning for Lifelong Care – Parents of a special needs child who want to ensure long-term care, financial stability, and protection of benefits through a properly structured trust.
- Blended Families Navigating Complexity – Couples in a second marriage with multiple children, seeking clarity, fairness, and reduced conflict through intentional trust planning.
- Families Focused on Legacy & Generations – Grandparents looking to protect assets, provide for future generations, and pass wealth intentionally.
- Inherited Asset & Landowners – Inheritors of family farmland who need professional trust administration to manage, preserve, and transition the asset responsibly.
- Pre-Retirees Facing Financial Uncertainty – Retirees who need structured planning to make finances last and align with future goals.
- Spouses Managing Long-Term Care Needs – Those caring for a spouse with a long-term illness and looking for stability, continuity, and support in managing assets and decisions.
- Individuals Finalizing Their Legacy – Get confidence that your children and chosen charities receive desired bequests as intended.
With thoughtful planning and support, your life’s work and assets will be protected for the next generation long after you’re gone.
FAQs: Trust and Estate Planning* at Bank Midwest
What kind of trusts are available to me?
As part of comprehensive trust & estate planning, Bank Midwest offers a range of trust services designed to fit your goals, your family, and your legacy. The right trust depends on how much flexibility you want and how your assets should be managed—now and in the future.
Revocable Trust: A revocable trust allows you to maintain control during your lifetime. You can change beneficiaries, add or remove assets, or dissolve the trust entirely as your needs evolve.
Irrevocable Trust: An irrevocable trust cannot be modified once created. Assets are transferred into the trust and removed from your personal estate, helping protect wealth and pass it to future generations as designated.
Irrevocable Life Insurance Trust (ILIT): Often used in advanced estate planning, this trust helps provide liquidity to pay estate taxes while keeping life insurance proceeds outside of your taxable estate.
Living Trust: A living trust is created and effective during your lifetime and is typically revocable. It allows assets to be managed during incapacity and transferred efficiently after death—often avoiding probate.
Testamentary Trust: Established through a will, this trust takes effect after death and ensures assets are administered according to your wishes, particularly for minor children or beneficiaries needing oversight.
Charitable Trusts & Foundations: Designed to support charitable organizations while still allowing income benefits to the grantor—an effective way to combine philanthropy with long-term estate planning goals.
Professional Trustee Services: Choosing Bank Midwest as a professional trustee provides stability, objectivity, and expertise—helping avoid delays, family conflicts, unnecessary fees, and potential financial losses.
Custodial Services: Support for IRAs and unique assets, including consolidated IRA statements and administrative oversight as part of our broader trust services offering.
Conservatorship: Created for individuals who need assistance paying bills and managing assets, ensuring finances are handled according to legal requirements and personal wishes.
Do I really need a revocable trust or irrevocable trust if I already have a will?
While both are important tools in estate planning, a will alone typically requires probate—a court process that can be costly, time-consuming, and public. Probate can delay access to assets for months or even years.
A trust helps avoid probate, reduces court costs, and ensures your assets are distributed efficiently and privately—exactly as you intended.
Shouldn’t I wait until I’m older to do trust planning?
Waiting is one of the most common estate planning mistakes. If something unexpected happens before your living trust or revocable trust is in place, your assets may be frozen in probate, potentially costing your family tens of thousands of dollars in legal and court fees.
Starting trust & estate planning early protects what you’ve built—today and tomorrow.
Can I change my trust once it’s created?
Yes. If you have a revocable trust, you can update beneficiaries, change assets, or dissolve the trust entirely as life changes.
An irrevocable trust, however, is permanent once established, with assets transferred into the trust during your lifetime. Bank Midwest’s trust professionals help you understand these differences so you can choose the structure that best fits your goals.
Securities and insurance products are not deposits, not FDIC insured, not insured by any federal government agency, not guaranteed by the bank, and may go down in value.
Ready to Plan for Your Future?
You don’t have to figure this out on your own. Our team is here to help you protect your legacy.
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