Revocable or Living Trusts

A Living or Revocable Trust is an arrangement where the grantor does not necessarily depart with ownership and control of the property but would like to direct how assets should be distributed in the event of incapacity or death. Changes can be made to living trusts during your lifetime by simply amending the current provisions of your trust.

Living Trusts are ideal for:

  • Individuals with concerns about providing for spouse and/or children
  • Special needs
  • Irresponsible individuals
  • Intertwined families
  • Providing for college education for children or grandchildren
  • Customers who are looking for tax savings and providing gifts to charities and non-profit organizations

Irrevocable Trusts

An Irrevocable Trust is an arrangement where the grantor departs with ownership and control of property without direct ownership being granted to any beneficiary. Generally, once established, an irrevocable trust cannot be changed or canceled. In exchange for giving up control of your assets, there are certain tax advantages to establishing an irrevocable trust.

Dynasty Trusts

A Dynasty Trust is a type of irrevocable trust that allows successive generations to benefit from the income and growth of the trust’s assets. This enables the grantor to control their legacy and how their assets will be distributed for many generations.

These are some of the reasons for establishing your Dynasty Trust in Wyoming and appointing Hilltop Bank as trustee:

  • In Wyoming, your trust can last for up to 1,000 years
  • No state income taxes
  • Avoid federal estate tax for future generations
  • Wyoming statutes allow for the naming of a Trust Advisor and Trust Protector

Testamentary Trusts

A Testamentary Trust is established in your Will and can be changed during your lifetime by altering your Will. The trust comes into existence upon your death. This type of trust can provide for the income, education, and support of your beneficiaries and manage assets for the benefit of the surviving spouse and children.

Estate Settlements

Many testators (the person making a Will) realize that the administration of an estate is too detailed and complex to be entrusted to anyone other than a professional fiduciary such as Hilltop Bank. The Bank’s Wealth Management Department is empowered to serve as “personal representative” or “executor” in the settlement of estates, subject to court appointment and, upon designation by a valid Will, duly probated.

The services provided by Hilltop Bank as the personal representative are numerous and include:

  • Open and administer probate
  • Identify, protect, value, and manage assets
  • Pay final bills and expenses
  • File final tax returns
  • Prepare accountings
  • Distribute estate to heirs
  • Close estate
What Happens With No Will; or With a Will; or With a Living Trust


(unable to handle your financial affairs)
Court Control: Court appointee oversees your care, must keep detailed records, reports to court, and usually must post bond (even if appointee is your spouse). Court approves all expenses, oversees financial affairs. Court Control: Same as no will.
No Court Control: Your successor trustee manages your financial affairs according to instructions in your trust for as long as necessary. (In some states, court intervention may be required for health care decisions.)


Probate: Court orders your debts paid and assets distributed according to state law. Probate: Same as no will, but assets distributed per your will (if valid and any contests are unsuccessful). No Probate: Debts paid and assets distributed by successor trustee according to instructions in your trust.


Death: Often estimated at 3-8% of estate's value. Incapacity: Impossible to estimate. Death: Same as no will. Costs can increase if will is contested after your death. Death: Minimal or no court costs. Reduced legal fees (minimal for small estates; larger/complex estates require more).


Death: Usually 9 months to 2 years or longer before heirs inherit. Incapacity: Court involved until recovery or death. Death: Same as no will. Death: Often just weeks. Larger/complex estates take longer for tax returns, asset division. Incapacity: No delays.


None: The court processes, not your family, have control at incapacity and death. When you die, assets are distributed according to state law. Limited: Same as no will, except when you die, assets are distributed according to your will (if valid and any contests are unsuccessful). You can change your will at any time. Maximum: You can change/discontinue your trust at any time. Assets stay under control of your trust, even at incapacity and after your death. More difficult than a will to contest.


None: Court proceedings are public record. Family can be exposed to disgruntled heirs, unscrupulous solicitors. None: Same as no will. Maximum: Living trusts are not public record. Your family can take care of your financial affairs privately.
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This account is established by the court for minors and persons with a legal disability who must have their property managed by someone. These managers are known as “conservators”. Hilltop Bank acts in a fiduciary capacity as conservator in administering this type of account. The Bank’s duties and responsibilities include such things as marshaling, appraising, inventorying, investing and protecting assets, and continued management of those assets to meet the needs of the minor or incapacitated person.

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By appointing Hilltop Bank as the Trustee of your trust, you will ensure that your trust receives personal attention from one of our professional, experienced Wealth Management Officers who can provide prudent investment management for your beneficiaries. Hilltop Bank offers continuity and expert administration of your trust and has an established, successful history of trust administration and investment expertise.

Please email or visit one of the Wealth Management Officers at the Main Office to determine if a trust is appropriate for you and what Hilltop Bank can provide as Trustee. Click the button below to contact a Wealth Management Representative, or call our Wealth Management Department at (307) 577-3305.