It's financial support for your children. And peace of mind for you.
You can depend on our staff to provide financial guidance when we are appointed as Guardian.
Family misfortune, such as the deaths of both parents, can leave young children on their own. You can ensure their financial well-being by nominating a guardian for them while they are minors. If something happens to you and your spouse, we will make sure your children's assets are used appropriately for their living and other expenses until age 18 when they receive the property outright.
- Because legal title to the funds cannot be in the name of the minor, the local court of jurisdiction in Kentucky will appoint a guardian of the property, such as Paducah Bank.
- As guardian, Paducah Bank will ensure that all of the child's bills will be paid (usually subject to court approval); funds will be invested; tax returns filed and taxes paid; and reports rendered monthly.
- Upon reaching the age of majority, the minor’s funds will be fully accounted for. Paducah Bank will work closely with the client to ensure fiscal continuity.
Nominating a guardian while they are minors can provide your children with a lot more than money. Paducah Bank will always make its trust officers available to families to help answer financial questions.