Our wealth management division works with individuals, their attorneys and tax advisors to create and implement trusts that are individually customized to preserve and enhance wealth and provide for coordinated family wealth transfer from generation-to-generation. Typical goals for establishing a trust would be:
- Help the client to secure current and future financial security for his or her family members currently and well into the future.
- Tax efficient planned giving strategies including various charitable trust, family foundations and related gift strategies designed to minimize income and estate taxes with corresponding wealth replacement programs.
- Provide tax deferred investment programs for retirement plan distributors from qualified retirement plans - 401(k), profit sharing and pension plans.
- Implement sophisticated estate tax savings vehicles such as qualified personal residency trust, grantor retained annuity trusts and similar trusts designed to reduce potential federal and state inheritance taxation and maximize the use of current gift and estate tax exceptions.
All of the above forms of trusts, both grantor and testamentary trusts are not only developed with our guidance but also carefully administered locally at our main office in Bedminster, New Jersey and additional office locations in Morristown, NJ and Greenville, Delaware. A team of highly experienced and dedicated administrative, investment and tax officers coordinate the administration of clients' trusts to optimize client service and trust account performance.
Securities and mutual funds are not FDIC insured, are not obligations of or guaranteed by Peapack-Gladstone Bank, and may involve investment risk, including possible loss of principal. Information provided for educational purposes only. This should not be relied upon as tax and/or investment advice. We encourage you to consult your personal legal, tax or financial advisors for information specific to your situation.