ESTATE PLANNING
Leave a Legacy for Your Family or Community

What is a Trust?

A trust is when one party (known as the trustor) gives a second party (the trustee) the job of holding property or assets for a third party (the beneficiary).

It's a great way to make sure money is set aside for another individual – like a child or grandchild – or to give back to your community or another cause that's important to you. Plus, establishing a trust account or policy may help prevent funds from being tied up in court after your death.

Find an Agent

Important Trust Account Information

  • You must already have a trust established to open a trust account or policy.
  • A trust account or policy can be registered in the name of a trust (living, family, charitable, or other).
  • Trust accounts or policies are often set up to help meet financial needs for family members or for charitable reasons.
  • If you set aside funds for a child or grandchild in a trust account or policy, that child will be able to access the funds based on the conditions in the trust document (for example, when he or she reaches a certain age).

Types of Trusts

  • An irrevocable trust generally can't be modified or terminated without the permission of the beneficiary and/or judicial authorities. It may be useful for federal estate tax planning.
  • A revocable living trust generally lets you transfer ownership of your property into a trust throughout the course of your lifetime. It gives you more control over your estate, both before and after death.
  • A testamentary trust is generally created by the terms of your will and goes into effect upon your death. It can't be amended or revoked.

Opening Your Trust Account

Your State Farm® agent can help explain your options to you, assist in setting up your trust account or policy and answer any general questions you may have.

Risk Disclosures

State Farm and its affiliates do not provide tax, investment, or legal advice. Federal and state tax laws are subject to change. If tax, investment, or legal advice is required, please seek the services of a licensed professional.

State Farm Life Insurance Company (Not licensed in MA, NY or WI)
Bloomington, IL
State Farm Life and Accident Assurance Company
(Licensed in New York and Wisconsin)
Home Office, Bloomington, Illinois

IL - 27.5

Not FDIC Insured

  • No Bank Guarantee
  • May Lose Value

State Farm Bank, F.S.B., Bloomington, Illinois ("Bank"), is a Member FDIC and Equal Housing Lender. NMLS ID 139716. The other products offered by affiliate companies of State Farm Bank are not FDIC insured, not a State Farm Bank obligation or guaranteed by State Farm Bank, and subject to investment risk, including possible loss of principal invested. The Bank encourages any interested individual(s) to submit an application for any product(s) offered by the Bank. We also encourage you to obtain information regarding the Bank's underwriting standards for each type of credit or service offered by visiting statefarm.com or by contacting the Bank at 877-SF4-BANK (877-734-2265). Callers who are hearing or speech impaired should dial 711 or use a preferred Telecommunications Relay Service. To apply for a Bank product, you may also see your participating State Farm agent.

State Farm Bank, F.S.B., Bloomington, Illinois offers deposit and loan products. Other insurance, securities or investment products are offered by affiliate companies. State Farm Bank ("Bank") is a Member FDIC and Equal Housing Lender. NMLS ID 139716. The other products offered by affiliate companies of State Farm Bank are not FDIC insured, not a State Farm Bank obligation or guaranteed by State Farm Bank, and subject to investment risk, including possible loss of principal invested. The Bank encourages any interested individual(s) to submit an application for any product(s) offered by the Bank. We also encourage you to obtain information regarding the Bank's underwriting standards for each type of credit or service offered by visiting statefarm.com or by contacting the Bank at 877-SF4-BANK (877-734-2265). Callers who are hearing or speech impaired should dial 711 or use a preferred Telecommunications Relay Service. To apply for a Bank product, you may also see your participating State Farm agent.