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Types of Accounts:
Investment Management Agency Accounts - This account is designed for people who are looking for investment management but do not want or need a Revocable Trust. The client receives all of the investment services that are provide by First Midwest Trust but does not receive some of the legal benefits that are provided by a trust such as probate avoidance.
Investment Advisory Agency - This account is designed for people seeking investment advice from qualified investment professionals but still desiring to make his/her own investment decisions.
Employee Benefit Trust - A formal agreement to hold and manage assets for the benefit of a plan sponsor’s employees with First Midwest Bank serving as Trustee of the plan.
Employee Benefit Agency - An agreement to hold and manage assets for the benefit of a plan sponsor’s employees. First Midwest Trust does not act as Trustee of the plan, but serves as investment agent and custodian for the plan sponsor’s executives or labor management board serving as Trustee.
Custody - An account that holds securities for an individual or organization but does not provide investment management for the securities held in the account.
Land Trust - This is an arrangement where title to Illinois real estate is held by a Trustee. The Trustee’s only duty is to deal with the trust when and as directed by the beneficiaries. The beneficiaries retain full management and control of the real estate and exercise all rights of ownership other than holding or dealing with the legal title.
Exchange Trust - An arrangement where an owner of real estate can defer capital gains by exchanging said property for "Like Kind" property. First Midwest Bank acts as an intermediary during the transaction.
Services Include:
Account Administration
Escrow Administration
Employee Benefits Plan Administration
Corporate Trust Services for Government
Tax Reporting
Unlimited Personal Consultation
Cash Management
Coordination of banking activities including,
- Transferring funds between bank and trust accounts
- Collateralizing Bank Loans
- Monthly payments on Bank obligations
Contact a First Midwest Trust Representative for more details and a personal review of your company’s investment management needs.
*Trust Services are offered through First Midwest Bank. Most trust products are not FDIC insured.
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