In Perspectives

When you go to a party or an event, as soon as you walk in most of the time you will scan the room to see if you know anyone else in attendance.  Why?  Because we are all more comfortable talking to people that we already know; you know what to expect and about how the conversation will go.  One thing that we try to do at Legacy Trust is get to know our clients – not just who you are on paper and your investment needs and goals, but what is happening in your life.  It makes it much easier to enjoy my job when I am working for a person that I know, rather than a faceless name. I like knowing that I am serving real people.

What type of information is helpful for me, or someone serving in a similar role?  Well, if Legacy Trust is managing your assets, we need to know what your cash needs are . . . and that opens up a whole can of worms.  You likely use outside funds to pay for your basic living needs, but do you have a big home improvement project coming up that will need additional cash? Or do you have a child or grandchild starting college that you want to provide tuition payments for? Or will you be retiring in the near future?  All of these things will impact how your assets are invested – we do not plan for the short term, we have a 5+ year plan for your assets.

If we are managing a trust during your lifetime that you have created, who we want to get to know depends on who the beneficiaries are.  Where the beneficiaries are at the discretion of the trustee (ex. charitable trusts), we want to know more about you!  What was your intent in creating this trust, are there any organizations that you want excluded, or any particular purposes you would like to see served?  If the beneficiary is a person that has special needs, we want to meet that person and get to know him/her and what he/she can do, and what he/she needs help with.  If the beneficiaries are your children and grandchildren (and yet to be born grandchildren), we of course want to know as much about them that we can, but also what your hopes and ambitions for them are.  Your trust is your legacy and your trustee should know what you intended!

Finally, if you have named Legacy Trust as the successor trustee we would love the opportunity to meet all present and future beneficiaries.  Why?  Because we really don’t want the first meeting we have with your loved ones to be after your passing, when they are grieving.  If we know who your beneficiaries are from the time you name us, and we are able to meet with you and them and get to know where they live and what is going on in their lives, it makes the transition much more seamless.

If you are looking for real people that really care about you and yours, please give us a call and the chance to get to know you.

Legacy Trust and Your Right to Financial Privacy

At Legacy Trust we have established policies and practices that respect the financial privacy of all individuals who use our trust company. We believe it is critical to comply with the laws and regulations designed to secure your financial privacy. Your relationship with us as our client is very important to us, and we want you to understand our policies and practices about handling your information.

This Policy applies to you – This Policy applies to our relationships with individual clients who inquire about or obtain products or services from us for personal, family and household purposes.

Strict security measures – We take the security of information very seriously. We have established security standards and procedures to prevent access to client information. We maintain physical, electronic and procedural safeguards to guard client information.

Limited employee access – We have established procedures to limit employee access to information to only those employees with a business reason for accessing such information. We educate our employees about the importance of confidentiality and client privacy. We take appropriate disciplinary measures to enforce employee responsibilities regarding client information.

Why we collect information – We collect information about you to:

  • accurately identify you;
  • protect and administer your records, accounts and funds;
  • help us design or improve our products and services;
  • understand your financial needs;
  • save you time when you apply for new products and services; offer you quality products and services; and comply with certain laws and regulations;

We collect information – We collect and maintain your personal information so that we can provide investment management and other services to you. The types and categories of information that we collect and maintain about you include:

  • Information we receive from you to open an account or provide investment advice or other services to you (such as your home address, social security number, telephone, financial information and investment objectives).
  • Information that we generate to service your account or from our transactions with you (such as account statements and other financial information).
  • Information on your transactions with nonaffiliated third parties.

We have established procedures so that the financial information we collect is accurate, current and complete. We are committed to work with you to promptly correct any inaccurate information.

Our selective sharing of information – In order for us to provide investment management and other services to you, we do disclose your personal information in very limited instances, which include:

  • Disclosures to nonaffiliated companies as permitted by law, including those who help us service your account (such as providing account information to brokers and custodians).
  • Other limited disclosures as permitted by law, for example, required reports to government entities.

We do not share your information with third parties for marketing purposes. We do not sell your information.

Former clients – If you end your relationship with us, we will continue to adhere to the privacy policies and practices described in this notice.

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USA PATRIOT Act

Important Information About Procedures For Opening A New Account

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

We apologize for any inconvenience this may cause; however, federal law prohibits us from waiving these requirements.

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