Financial Calculators

First State Bank Shannon-Polo-Lake Carroll has had a full service trust department since 1976. The following trust services are available at any of our convenient locations.

Executor Services | Living Trusts | Guardianships | Land Trusts

Executor Services

One of the most important aspects when setting up your will is selecting a qualified executor. It takes considerable time and expertise to settle an estate. Assets must be located, inventoried, and safeguarded. Debts have to be paid and the balance needs to be distributed to your heirs according to your wishes. These are just a few of the responsibilities of an executor along with preparing tax returns.

Our trust officers have successfully administered and settled many estates. Just call and ask for a trust officer and we will be glad to discuss in more detail how naming us as executor will benefit both you and your heirs.

Living Trusts

Frequently, we are named as either trustee or successor trustee when individuals create a living trust. As trustee, we offer professional asset management and the peace of mind to our trust customers that their financial affairs are being managed according to their direction. Income and principal can be distributed as needed. Assets are reviewed with the beneficiaries periodically and complete statements are mailed monthly.

Sometimes individuals act as trustee of their own trust. We are often named as successor trustee. As such, we only act when you, as trustee, are no longer able or willing to manage your financial affairs. By naming the First State Bank Shannon-Polo trust department as your trustee or successor trustee you can rest assured that we will strive to help you attain you financial goals.


We are currently serving as Guardian of the Estate for several individuals. If circumstances warrant, we can handle the financial affairs of individuals who are still minors or who have been declared incompetent to handle their own financial affairs. If you or someone you know has a need for us to serve as guardian of the estate please call us and we will tell you how we can help.

Land Trusts

Over the years, land trusts have proven to be a simple, inexpensive way of handling the ownership of real estate. An individual desiring privacy might want to establish a land trust. For example, title to the property is held in the bank’s name and only the bank knows the beneficiaries of the trust. Also, gifting a percentage of the trust can be accomplished fairly easily with the advice of your tax planner. Finally, since the beneficial interest in the trust is considered to be personal property, the expense of going through probate is often avoided with the passing of one or more of the beneficiaries of the land trust. If you have questions regarding land trusts, or any other trust, please call one of the professionals in our trust department.

First State Bank Shannon-Polo-Lake Carroll
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