Secure your financial future with expert guidance and advice from our Trust Division.
We take a personalized approach to the administration of trusts.
We help you manage all aspects of an estate settlement including serving as an executor.

Our trust and investment professionals offer you a wealth of experience and expertise, backed by the reliability and integrity of one of the most trusted banks in the nation. We provide the personalized interaction, individually tailored solutions and exceptional customer service you have come to expect from Valley National Bank. Our goal is simple: we work with you to navigate the complex landscape of trust and estate planning in order to preserve and grow wealth for you and your loved ones.

Our fiduciary capabilities include:

  • Testamentary Trusts
  • Investment Management
  • Retirement Plan/IRA Rollovers
  • Custodial Services

Estate planning: A Conversation Worth Having

Estate planning requires individuals to have frank, thoughtful discussions about difficult issues. Issues such as an individual’s potential incapacity and end-of-life care must be considered. The discussion should address “what if” events such as the death of both parents of minor children, or the death of a surviving spouse shortly after the death of a predeceased spouse. Issues involving family dynamics also need to be discussed. These might include: the respective needs of potential heirs, the possibility of adult children divorcing from their spouses, the involvement of an adult child in the care of a parent or a family business.

Rather than face these troubling issues, many individuals avoid having the conversation. But postponing planning can produce undesirable outcomes and costs.

Some of the results of failing to prepare an estate plan are obvious. Neglecting to obtain life insurance to meet anticipated family obligations may result in financial hardship for surviving family members. If both parents of minor children were to die in a common accident without nominating a Guardian(s) in their wills, a court would have to determine who should serve in that capacity. Failing to designate a Health Care Proxy to make decisions in the event of incapacity, may leave family members and health care providers without guidance when faced with end-of-life health care decisions.

Other results of failing to prepare an estate plan are less apparent. A bequest of an estate to an adult child who is married may be subject to a claim in a divorce. If a simple “I love you Will,”, where one spouse leaves all property to the surviving spouse, is not updated on the death of the first spouse, the surviving spouse may unintentionally leave all assets to her/his in-laws. Bequests to young adults and family members who have spending issues, without placing some restrictions on those bequests, may be squandered.

When an individual dies without a will, a court, relying on statutory directives, must attempt to discern what the decedent would have wished and what is in the best interest of the decedent’s heirs. This process can be lengthy and costly.

“Facing the difficult issues that are inherently part of estate planning is important,” remarks Christopher Kavanagh, First Vice President and Director of the Trust Services Department at Valley National Bank. “Developing an estate plan and periodically reexamining the plan can help avoid unnecessary expenses and delays and most importantly, unwanted outcomes. To preserve the wealth that an individual has earned over a lifetime, to avoid placing unreasonable burdens on loved ones and to support family members throughout their lives, a comprehensive estate plan is necessary for every adult.”

Valley National Bank’s Trust Department offers a wealth of experience and expertise in trusts and estate planning, backed by the reliability and integrity of one of the most trusted banks in the nation. We provide the personalized interaction, individually tailored solutions and exceptional customer service you have come to expect from Valley National Bank. Our goal is simple: we work with you to navigate the complex landscape of trust and estate planning in order to preserve and grow wealth for you and your loved ones. For more information call 862-207-7327 or Contact Us.

Personal Trust Services

Using your priorities as our guide, we take a personalized approach to the administration of trusts. Our experience, expertise and insight allow us to provide the objective support and professional guidance you need as a trustee.

These services include:

  • Managing and investing trust assets
  • Distributing trust income and principal according to trust agreement directives
  • Keeping detailed records of all transactions
  • Preparing the trust's tax returns
  • Providing you and other beneficiaries with regular statements of account

The products offered by Valley National Bank's Trust Department are not FDIC insured, are not deposits or other obligations of the bank, are not guaranteed by the bank and involve investment risks, including possible loss of principal amount invested.

Revocable Trusts

A revocable trust is an agreement established to meet virtually any financial purpose. As an integral part of your financial planning, it can be the cornerstone of asset accumulation, preservation and estate planning. One of the most important benefits of a Revocable Trust is the protection provided in the event of incapacity. As trustee of a revocable trust, we can manage property as well as pay medical or household bills, taxes or other expenses directly from the trust.

The products offered by Valley National Bank's Trust Department are not FDIC insured, are not deposits or other obligations of the bank,are not guaranteed by the bank and involve investment risks, including possible loss of principal amount invested.

Testamentary Trusts

A testamentary trust is an arrangement under the terms of a will by which a trustee manages assets according to the wishes of the testator. Trusts can be designed for the benefit of spouses, children, grandchildren, other individuals or charities.

We can act as trustee or co-trustee of any trusts established under your will. To ensure continuity of management, many of our clients who name Valley as executor also name us as trustee under their wills.

The products offered by Valley National Bank's Trust Department are not FDIC insured, are not deposits or other obligations of the bank,are not guaranteed by the bank and involve investment risks, including possible loss of principal amount invested.

Estate Settlement Services - Executor

Who is an executor? An executor is a representative appointed in the will to handle the estate and ensure that the deceased's wishes are carried out as expressed in the will. In our role as executor or co-executor of your estate, we must:

  • Arrange for the probate of your will
  • Locate, inventory, value and protect estate assets
  • Manage and invest those assets during the period of estate administration
  • Pay the estate's expenses
  • Collect any debts owed to you or the estate
  • Keep accurate records of all transactions
  • Prepare required state and federal income tax returns
  • Distribute assets to heirs as requested in your will or revocable trust

The products offered by Valley National Bank's Trust Department are not FDIC insured, are not deposits or other obligations of the bank,are not guaranteed by the bank and involve investment risks, including possible loss of principal amount invested.

Agent for Executor/Trustee

Many people are unfamiliar with the duties and responsibilities of acting as an executor and acting as a trustee. We can provide the support and guidance you need to carry out these duties. As your agent, we can handle all of your decision- making responsibilities including the investment of the assets, the preparation of any required financial reports for probate court and the record keeping for the estate.

Examples of services include:

  • Investment management
  • Record keeping
  • Tax planning and return preparation
  • Accounting and reporting
  • Distributions (discretionary) in accordance with the will or trust agreement

The products offered by Valley National Bank's Trust Department are not FDIC insured, are not deposits or other obligations of the bank,are not guaranteed by the bank and involve investment risks, including possible loss of principal amount invested.

Investment Management Accounts

Our investment management account provides overall supervision of your securities. We examine your present circumstances and investment goals with you before developing an investment plan to meet those objectives. Once the plan is in place, we make all the investment decisions necessary to meet your expectations.

Our investment management account also provides custodial services.These include protection for securities, collection and distribution of investment income, record keeping and periodic statements of account.You retain full ownership of the securities and are free to amend or terminate the arrangement at any time.

The products offered by Valley National Bank's Trust Department are not FDIC insured, are not deposits or other obligations of the bank,are not guaranteed by the bank and involve investment risks, including possible loss of principal amount invested.

Investment Advisory Accounts

Our investment advisory account enables you to take advantage of our professional investment recommendations while you retain all final investment decisions. We also attend to all of the administrative tasks involved in managing your assets through our custodial service, as well as make investment recommendations based on your investment objectives. You are free to accept or reject these recommendations, and we will implement your decisions on your behalf.

The products offered by Valley National Bank's Trust Department are not FDIC insured, are not deposits or other obligations of the bank,are not guaranteed by the bank and involve investment risks, including possible loss of principal amount invested.

Custody Accounts

As custodian of your investments, we will work on your behalf in several ways. For example, we protect your securities and deposit dividend and interest payments. We can also distribute investment income, execute buy and sell orders, keep you informed about mergers, conversions, bond maturities (plus any other events that may affect your investments) and provide periodic statements of all your account transactions.

The products offered by Valley National Bank's Trust Department are not FDIC insured, are not deposits or other obligations of the bank,are not guaranteed by the bank and involve investment risks, including possible loss of principal amount invested.

1031 Exchange Accounts

A "1031 Exchange" (Tax-Deferred Exchange) can be a highly advantageous tax planning strategy for taxpayers. Section 1031 of the Internal Revenue Code gives real estate owners the opportunity to defer capital gains incurred in the sale of income-producing investments or business properties if the proceeds of the property are reinvested in a like-kind exchange.

The products offered by Valley National Bank's Trust Department are not FDIC insured, are not deposits or other obligations of the bank,are not guaranteed by the bank and involve investment risks, including possible loss of principal amount invested.

Escrow Account Services

We can act as an "Escrow Agent." The role of escrow agent arises when two or more persons deposit money, securities or other property with a third person (or institution) to be delivered on a certain contingency or a certain event.

Our seasoned trust officers are well versed in all the intricacies of administering escrow accounts. We can act as an escrow agent to carry out your instructions, not to exercise discretion.

The products offered by Valley National Bank's Trust Department are not FDIC insured, are not deposits or other obligations of the bank,are not guaranteed by the bank and involve investment risks, including possible loss of principal amount invested.

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