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Wealth Management Services

Trust Services

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We offer a complete line of investment and trust services, designed to serve every aspect of the communities we serve and suitable to every age group.  From savings plans for children’s education, to sophisticated investment plans for retirees and everything in between, we offer tailored investment and planning services for everyone, all performed with the attention to detail, knowledge and confidentiality you expect and deserve.  

Investment Management Accounts:

The purpose of this Trust Relationship is in its heading.  Clearfield Bank & Trust will manage investments according to a strategy selected by each client in order to meet specific needs. Clients who opt for this service generally wish to be relieved of the day-to-day burden of investing such as CD rollovers, stock trades, stock splits, tracking cost basis or keeping income tax records. As an added bonus, the Bank is also able to pay bills as the client may direct.

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POA Relationships:

This Trust Relationship is for individuals who desire or require assistance in managing all of their daily affairs; often people do not realize that they can give a Bank their Power of Attorney.  Once engaged, the Bank oversees the legal, financial and income tax matters plus family and personal affairs, working entirely in the interests of the client.  The Bank also furnishes regular accountings of all activities in keeping with Pennsylvania law governing Powers of Attorney. 

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Estate Services:

The Bank can serve as an estate Executor or Administrator.  Executors or Administrators may also hire Clearfield Bank & Trust as their Agent, taking advantage of the Bank’s expertise in wrapping up the affairs of a deceased individual.  The Bank gathers and values estate assets, prepares and files necessary legal documents, inheritance tax returns and income tax returns in a timely fashion, furnishing regular accountings to the heirs.  The Bank works to settle debts, claims and taxes quickly and efficiently to assure timely distribution and conclusion to the estate.

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Guardianships & Special Needs:

These Trust relationships are custom-tailored for individuals who are incapacitated as a result of health problems or aging.  The Bank works along with the Courts and Health Care Providers and other public agencies to manage the assets, expenses and sometimes the legal interests of the beneficiary.  Regular accountings are furnished to all interested parties.

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IRA Accounts:

The usual function of Trust IRA accounts is to receive and manage rollover distributions from 401K or other retirement plans.  As the sums are often considerable, this account allows for greater diversity in investment choices. In addition to investment services, the bank handles IRA reporting and calculates any required minimum distribution figures for each account.

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Gas Leasing Agent:

The purpose of this Trust Relationship is to assist with the negotiation, collection, investment and distribution of gas revenues.  As agent, the Bank will periodically monitor well production and royalty receipts and the names and addresses of leaseholders.  In addition the Bank will process royalty payments and furnish annual statements and tax information to the leaseholders.

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Trust Services FAQ’s and Glossary of Terms

Not FDIC insured, not guaranteed by the bank or any government agency, not a bank deposit and may lose value.