Meet First National Bank's New Trust Officer!
First National Bank is pleased to welcome Elizabeth Beadle Legue to our Trust & Asset Management team. Beth joined the bank in May as a Trust Officer and will focus on the administration of trusts and estates. She received her Juris Doctor from the University of Iowa College of Law in 2012 and was previously engaged in private practice in her home town of Solon.
We sat down with Beth to ask a few questions about her background and her role as a Trust Officer...
Can you share a little bit about your background?
Sure! I was born and raised in Solon, where my parents still reside. In high school I kept myself busy with basketball and band until my senior year when I left school to serve as a page for the Iowa Senate. After graduating from Solon High School I attended Knox College in Galesburg, Illinois. While there, I was a member of Delta Delta Delta and the Knox College Student Senate. I also spent time studying abroad in Botswana. After Knox I made my way to law school where I met my husband, Nate Legue. We were married last September so I am still adjusting to life as wife and mother to my stepson, Nicholas. It has been an eventful journey and I'm excited to be here in Muscatine!
How do you like working in Muscatine?
I love it so far. Everyone has been very welcoming and there is a definite sense of community here that appeals to me, coming from a small town with similar values. There is just so much to learn about the fascinating history of Muscatine, especially the commercial success of so many businesses that got their start here. What has really impressed me so far, is how many great business people of Muscatine are also great philanthropists. As a Trust Officer I have the ability to help people plan for donating and for long term charitable giving. It has been really inspiring to see the commitment the people of Muscatine have made to their community.
Why did you choose a career as a trust officer at First National Bank?
It is a great opportunity for me to use my legal background and experience in a way that serves others. I am committed to improving the lives of others and as a Trust Officer I can help people and their families achieve certain financial goals by being part of their estate planning team.
I think people tend to believe that estate planning is only for the very wealthy, but that just isn't true! Any individual who has worked hard and invested throughout their lifetime can benefit from meeting with a member of our Trust and Asset Management team to discuss their goals. I am looking forward to meeting more of our customers and seeing how we can help them meet their financial objectives.
What is one mistake people often make in planning their estate?
The biggest mistake, of course, is not having a plan. Another common mistake is not reviewing your plan on a regular basis. I encourage our customers to take a moment to consider their estate plan and the following questions: Have there been any changes in the family such as deaths or births? Is the executor or trustee still able to serve? Have there been any changes in assets or major acquisitions? Have there been any changes in tax laws that may affect the plan? I recommend scheduling a periodic estate plan "checkup" with members of your estate planning team to see if any modifications should be considered.
What is an estate planning team?
When developing an effective estate plan, there are many complicated issues that must be considered. There are legal, tax, investment and administrative matters that will all require careful thought and advice from professionals of different backgrounds. Typically, members of your estate planning team would include your attorney, CPA or tax advisor, trust officer, and investment and insurance professionals. Most people find that developing an estate plan can be a daunting task, but by putting the right team together, the job can be made a lot easier. If you have delayed putting your plan together, we can help you get started.
What services can you offer as a Trust Officer?
By naming First National Bank of Muscatine as Trustee or Executor, our customers can have peace of mind knowing that their financial matters will be handled by a team of experienced professionals well versed in the ever changing laws surrounding trust and estate administration. We are able to take on complicated tasks which would otherwise be a burden to loved ones. In addition to trust and estate administration, we also offer investment management, agency accounts and other types of services designed to help people meet their financial goals.
Our Trust and Asset Management department is located on the second floor at the main bank. Please feel free to stop in and meet our new Trust Officer, Beth. We look forward to seeing you!