Many people work for a lifetime to build meaningful assets— a farm, business, or personal savings—intended for the next generation. Yet when it is time to protect those assets through a trust, choose wisely.
Traditionally, families appoint a relative as trustee. While familiar, there are other options, such as the trust department at Iowa State Bank. Today’s families are spread across the country, and the responsibilities of a trustee are increasingly complex. Managing a trust requires financial oversight, recordkeeping, asset management, and the ability to stay neutral amid family dynamics—tasks that can overwhelm even the most well‑intentioned family member.
When selecting a trustee, ask yourself:
  • Do they have the time for long-term administrative work?
  • Are they capable of managing accounting, bill payments, and tax duties?
  • Can they responsibly oversee farmland, real estate, investments, or business interests?
  • Can they remain impartial if conflicts arise among beneficiaries, including family members?
Because these demands are significant, many people choose professional, third‑party trustees. Banks with dedicated trust departments offer expertise, continuity, and objectivity.
Choosing a bank does not replace the role of family; it frees them from administrative burdens. As you work with your attorney, tax preparer and other financial advisors, consider shifting the question from “Which family member should handle this?” to “Who is best suited to carry out my wishes and reduce stress for my loved ones?”
For many, the best answer is a trusted professional whose sole responsibility is ensuring your legacy is managed by your wishes with long‑term stability.
 
Paige Grein, CPA, is the Trust Manager at Iowa State Bank. Iowa State Bank offers a full-service trust department located in Algona, IA.