Kids, you’re young and are most likely not thinking about owning a car! After all, it’s going to be quite a few years until you can take classes to learn how to drive.
But if having a car someday is exciting, start saving your money now! If you want to buy a car when you are a teen or older, it helps to have the money saved up!
Youth - Career
For Parents:
If you ask a four year old boy what he wants to be when he grows up, he’ll probably tell you he wants to be fireman or policeman. Generally, children identify with what is familiar to them - what they see everyday. While kids may learn about different careers in school, they are not always exposed to different jobs on a first-hand basis. It's worth talking about different occupations with your child. Who knows, you may even be able to give your child a better understanding of the work-force through your personal experience or a field trip to a job site they're interested in!
Youth - College
For Parents:
Even though it may seem like eons before your child will be choosing a college, it’s never too early to get them thinking about their education.
The U.S. Department of Education created a website to help kids start thinking about college:
Trust Services South Valley Bank & Trust (SVBT), an Oregon banking corporation, is chartered to offer a full array of Trust services including Planning and Consultation, Trust and Estate Administration and IRA Services. By working with you, and if you wish, your advisors, our Trust officers can help develop your estate plan to insure that your wishes are fully addressed and your estate is fully protected.
Some of our clients choose South Valley Bank & Trust's estate services because they want to set up a financial plan for their adult children or others. They want a professional with training and experience in investments and estate management to carry out their precise plan. Others simply want Trust services to make it easier for their loved ones, who may not be in the best position for managing an inheritance.
Whatever your reason, you can be assured that our Trust professionals are trained and understand that they are managing your estate. Part of that means they are highly-regulated to carry out your wishes fully and giving you peace of mind.
There is no fee for a consultation and no pressure to sign up for their services.
Trust Options
Estate Planning and Consultation
Personal Representative of an Estate-Executor/Administrator
Conservatorship
Living Trust - Revocable or Irrevocable
Testamentary Trust
Property and Investment Management Agency
Custodial Account
Rollover IRA - Self-Directed and Specialty Assets
Charitable Gift or Portfolio Management
1. Estate Planning and Consultation
Estate Planning is a service where the Bank works with the client and their attorney or other advisors, to analyze the client’s assets and financial interests and arrange a plan for conserving estate assets. This service generally leads to the Bank being named personal representative and/or Trustee under the plan. The purpose of the plan is to minimize estate and other taxes, assure the security of the client’s family, arrange for the continuity of his business, and provide for the disposition of assets according to the client’s wishes.
2. Personal Representative of an Estate - Executor/Administrator
Serving as personal representative or administrator is settling the estate of one who has died either leaving a Will (testate) or without a Will (intestate). The Bank may have been named in the decedent’s Will as the personal representative or executor of the estate. If the decedent names an individual as personal representative, that individual may have the Bank appointed as agent for the personal representative. If the deceased died intestate, the court may appoint the Bank as administrator of the estate. In each of these cases (whether as personal representative, agent for the personal representative, or administrator) the Bank, makes an inventory of the assets of the estate, prepares a budget for the settlement of the estate, pays all taxes and claims against the estate, prepares a final accounting for the probate court, and makes the final distribution of the assets to the heirs and beneficiaries.
3. Living Trust - Revocable or Irrevocable
A Living Trust is a Trust for which the Bank, as Trustee, usually assumes full management responsibility for the assets placed in Trust. Such a Trust may be revocable or irrevocable, and established for a variety of reasons. The Trustor may need professional or specialized investment management, may not have the skills necessary to manage his wealth, may not have the time to give to managing his investments, or may have other priorities. A Trust established for investment management provides financial protection in the event of incapacity and can be structured to avoid probate and obtain tax savings at the death of the Trustor.
4. Testamentary Trust
A Testamentary Trust is created under a Will. A person writing a Will may leave property directly to the beneficiaries or leave it in a Trust for them, a Testamentary Trust. Testamentary Trusts are established to protect the family, save on taxes, and manage investments, businesses, and farms. Family protection includes preserving the family home, relieving survivors of the responsibility for managing investments and other property, and supplying income necessary to maintain the family’s standard of living. It also includes providing for the special needs of children and eliminating the need to appoint a custodian for the children. (A guardian of the person of minor children is required and this must be an individual, not the Bank.)
A Testamentary Trust enables a person who has been remarried and has children from a previous marriage to provide for the surviving spouse and ultimately channel assets to his or her own children. It is also a way to provide life-long care for children who are suffering from physical, emotional, or mental disabilities.
5. Conservatorship
A Conservatorship is a court-appointed arrangement for the financial protection of the estate of an incapacitated person. Conservatorships are established for individuals who are considered legally incapacitated and own property not otherwise protected, have business affairs that are jeopardized by their incapacity and need funds for support or education of themselves and or their dependents. Common instances of legal incapacity are minors and adults who are incapacitated by medical causes, effects of aging, mental illness, addiction to drugs or alcohol, or confinement. The Conservator’s responsibility is much like the responsibility involved in estate settlement; gathering the assets, filing an inventory with the court, managing the property in the client’s best interest, making a periodic accounting to the court, and terminating the Conservatorship and distributing property at the appropriate time.
6. Property and Investment Management Agency
An Agency Account is a service where the Bank provides management or advisory service as complete as the client requests. The property managed may be securities, real property (a house, rental buildings or a farm), or other property.
Where securities are managed, the Bank may conduct periodic reviews and analyses of the securities; make recommendations for keeping or selling present securities and purchasing new ones; providing advance notice of maturity of bonds or notes; preparing an annual information statement for income tax purposes and watching for advantageous opportunities related to the securities held. The amount of discretion exercised by the Bank varies with the relationship from full discretion (the Bank is free to buy, sell and exchange securities within the principal’s portfolio without the client’s consent) to simply making recommendations to the client about proposed investment changes.
As managing agent for real property, the Bank may obtain tenants, arrange and handle leases, collect rents, advise the client of needed repairs and take care of those repairs, and pay insurance premiums, taxes, interest on the mortgage, or other assessments. As with the managing agency for securities, the management agency for real property will have varying degrees of discretion assigned to the Bank.
7. Custodial Account
A Custodial Account is a service where the Bank, as custodian for the principal, not only safe keeps the property, but also takes care of the routine administrative tasks associated with it. This includes receiving dividends and interest and disbursing or reinvesting them as the client instructs; collecting the principal on matured or called bonds, notifying the client of corporate actions affecting the property (bond calls, defaults, tender offers, class action suits); buying, selling, receiving or delivering securities at the client’s direction and providing a periodic statement of account activity (receipts and disbursements).
8. Rollover IRA - Self-Directed and Specialty Assets
Rollover IRA services are provided in a variety of circumstances, including for individuals receiving a large distribution (over $250,000) from their employer’s retirement plan. A direct rollover from the employer’s plan can prevent current taxability. Direct transfers from other IRAs may also be made. Rollover IRA service includes allowing self-direction of investments or full management. By maintaining an IRA, taxes on investment earnings as well as the capital rolled over are deferred until withdrawn. A wide range of investment opportunities such as stocks, bonds and mutual funds are available with this service. Additionally, the Bank is able to accept specialty assets into Rollover IRAs such as closely held stock, real property and notes secured by Deeds of Trust.
9. Charitable Gift or Portfolio Management
Charitable gifts may be made outright to the charity, as a part of a Will or estate plan, and through a variety of types of charitable Trusts established during lifetime. The Bank serves as Trustee for these gifts, managing, administering and disbursing them to assure that the charitable intent established by the donor under the pertinent gift agreement is adhered to in perpetuity. The Bank also serves as investment agent for the charity itself to professionally manage and account for gift funds in its portfolio.
Trust Services Locations:
Klamath Falls Trust Services
PO BOX 5210
801 Main Street
Klamath Falls, OR 97601 Phone: 877.487.8788 (toll-free) Fax: 541.880.5252
Medford Trust Services
PO BOX 1784
860 O'Hare Parkway, Suite 100
Medford, OR 97504 Phone: 800.695.0330 (toll-free) Fax: 541.779.1916
Please note: A Trust officer is available to clients in all areas, including Crook County, Deschutes County, Jackson County, Jefferson County, Klamath County and Lake County.
For Adults in Relation to Youth: Guardianships and Conservatorships
While individuals in this age-group are not of age to act in the capacity of a guardian or Conservator, minors certainly may find themselves subject to such a proceeding.
In Oregon, guardians are appointed by the courts or by being named in a legal document. A guardian has custody of the protected person and may establish that person’s residence. Each state’s laws are different in regards to Guardianships & Conservatorships. Some states grant the authority over both the physical and financial well being of the protected person. Other states, like Oregon, separate the two obligations. For example, South Valley’s Trust department will only act as Conservator and not guardian. SVBT will also not act as a health care representative under an advance directive. The guardian has a duty to provide care, comfort, maintenance, training, and/or education for the protected person.
Conservators are appointed by the court when a person becomes incapable of handling personal or business financial affairs and/or managing their property. When a Conservator is appointed they have a fiduciary duty to follow strict reporting and administrative guidelines.
The following links may be helpful:
Trust and Estate Planning
Trusts can be established for minors by loved ones for support, education, or possibly from an insurance settlement. A Trust may be created for the purposes previously described, or may result from a loved one’s estate plan, i.e. from a Will, Living Trust, or Irrevocable Trust. Their typical benefit will be the careful investment and protection of the Trust by the Trustee.
South Valley Bank & Trust offers a wide variety of Trust and Estate services to assist you in ensuring your financial security.
By working with you, and if you wish, your advisors, our Trust officers can help develop your estate plan to insure that your wishes are fully addressed and your estate is fully protected.
You can be assured that our Trust professionals are trained and understand that they are managing your estate. They are heavily regulated to carry out your wishes fully, giving you peace of mind.
The following services are offered through the South Valley Trust department. A full description of these services can be found at the top of the page:
Estate Planning and Consultation
Personal Representative of an Estate – Executor/Administrator
Living Trust – Revocable or Irrevocable
Testamentary Trust
Conservatorship
Property and Investment Management Agency
Custodial Account
Rollover IRA – Self-Directed and Specialty Assets
Charitable Gift or Portfolio Management
Free Trust and Estate Consultation
For a free consultation on Trust and Estate services, please contact the SVBT Trust Department.
Some investment products are offered through Trust Services:
Investment products offered by SVBT Trust Services are not a deposit, not FDIC-insured, not insured by any federal government agency, not guaranteed by the bank, and may go down in value.
Youth - Health and Wellness
Kids, when you’re young, stay active! Television and DVD games are entertaining, but it’s important to exercise in order to build strong bones and stay healthy.
To stay active, think about things to do outside:
Tag
Hide and seek
Baseball
Basketball
Dodgeball
Tether ball
Hiking
Football
Riding your bike
Ping-Pong
Swimming
Walking your dog
Helping your parents garden or do other outside chores
Youth - Housing
Sure, you're too young to think about the cost of your house payments, but it's not too early to understand everything that goes into running a household. Ask your parents about all the things that make your house a nice place to live. Maybe you could play house together and you could learn about everything from groceries to the electricity running through the house.
Youth - Identity Theft Protection
Hey kids, have you heard of Identity Theft? It sounds like something right out of a good mystery book, doesn’t it?!
What is Identity Theft?
Unfortunately, Identity Theft is something that’s real and very true. Just as there are thieves who may break into a car and steal valuables, there are other thieves who may steal someone’s name and information to gain access to their valuables.
For example, your parent’s names have an identity that includes their name, address, telephone number and social security number. If they drive, they also have a Drivers License number. Your identity as a kid will likely be your name, address, telephone number and social security number.
Identity Theft thieves try to steal identities so they can pretend to be someone else to get access to money in accounts or get a loan. It’s dishonest and the police are always trying to catch the thieves.
How can you help in protecting your family?
Be private about your personal information
Be private about your family’s personal information
Never give out personal details when you are on the Internet!
If someone you don’t know asks for personal information, don’t be afraid to say “NO!” and tell your parents right away. Maybe you could help catch a thief!
Be especially careful on internet sites where you exchange information with friends. Whatever you say to a friend can be possibly stolen, so never share personal information online!
When a computer program asks you to create a password, make sure you make up one that would be hard for a thief to guess. For example, if your dog’s name was Marny, here’s a couple of examples:
NOT good: “marny”
Much better: !Marny12
(the combination of using upper case, capital letters, small letters and numbers makes a better choice)
Credit and Debit Cards
Chances are you’ve seen Mom or Dad using these. These cards are a way your parent’s access the money in their personal banking accounts, so make sure you never give out the numbers on the cards - to anyone!
ATM Machines
Thieves love to hang out at the ATM machines. If you’re with your parents, make sure they cover the keypad when they are entering their security Pin Numbers. Also watch to make sure there are no suspicious characters around!
Common Sense
There are many good people in the world and we don’t want you to go around being afraid of Identity Theft. Just use what you learn here along with your good common sense. If you get suspicious about something, let an adult know right away! Otherwise, be safe and secure in protecting your privacy and personal information!
Youth - Insurance
You’re not ready to think about insurance, but it’s probably a good idea to ask your parents if you have health insurance. You never know when you’ll have to visit the doctor.
Youth - Managing Your Money
Dollar the Dragon™ Website
Dollar the Dragon™ can teach you all about money through a fun, super cool, interactive website! You can learn, play games, and have fun - all at the same time!
South Valley Bank & Trust’s Kids Savings Club
Kids, it’s important to learn how to save your money. While it’s fun to spend money and buy new toys; think about saving some of your birthday money or allowance. By saving your money, you can build up more money in your bank account to buy something really special!
Being part of Kids Savings Club is a fun and easy way to save your money.
Dollar the Dragon™ has lost his treasure chest! If you can help him find it, he will give you a piece of his treasure. It’s easy to play!
Bring your money to a South Valley Bank & Trust branch and deposit it into your own Kid’s Club Savings account. When you make your first deposit, you will be given a cool game board. Once a week, you’ll get a special sticker for making a deposit into your savings account. The stickers follow a trail leading to Dollar's treasure chest on the game board. Once you get to the treasure chest, you’ll get to reach into the real treasure chest at the bank to get your treasure! Happy savings!
South Valley Bank & Trust’s Kids Money Market
If your mom, dad, or grandparents have a South Valley Bank & Trust Money Market account, they can set up a Kids' Money Market account for you as well. By doing so, you will receive more interest than with a savings account, no matter how much money is in your account. If this doesn’t make sense to you, ask your banker or parents about it!
American Bankers Association
For a newsletter designed by the American Bankers Association and geared toward youth and financial education, click here:
The U.S. Treasury explains the basics of U.S. currency and anti-counterfeiting measures to kids. It also provides links to interesting sites like The Bureau of Engraving and Printing and the United States Mint H.I.P. Pocket Change Kids' website. http://www.newmoney.gov/education
The U.S. Mint's website teaches kids about the history of coins and the Mint through cool, interactive games and cartoons. http://www.USMint.gov
Fun Money Education Websites: Just click on one of the images below and it will take you to a fun and interactive game.
Ed’s Bank (created for children in grades 3 to 6)
Help Ed collect enough money to shop for his favorite things. Then watch his quirky reactions as he interacts with his purchases. This entertaining game provides a lighthearted way of teaching younger audiences about saving and differing money values.
Cash Puzzler (created for children in preschool and early elementary school)
Youngsters will learn to recognize dollar bills with this simple puzzle game you can play online. Complete each puzzle to learn quick facts about the people featured on each bill.
Road Trip Savings (created for adolescents)
Meet the challenges of four weeks on the road as you steer your way to financial stability. This game requires players to make decisions about income, expenses and savings.
Federal Deposit Insurance Corporation (FDIC) for Youth:
Need help understanding (or teaching) what the FDIC does?
Visit the Federal Deposit Insurance Corporation's Learning Bank with your tour guide, Carmen Cents. She will take you and your child or student through the basics of the agency and provide access to other FDIC websites. http://www.FDIC.gov
U.S. Department of Treasury for Youth: The U.S. Department of Treasury put together an easy-to-read website using graphics and games to explain different parts of United States money making. It includes links to the White House, the U.S. Mint, as well as a site about U.S. Savings Bonds. http://www.USTreas.gov/kids
Social Security for Youth: Do you think that Social Security has something to do with hanging out? Think again! The Social Security Administration put together a website that uses fables to illustrate the concepts behind Social Security to younger children and teens. It also provides plenty of teaching tools for parents and teachers. http://www.SSA.gov/kids
American Bankers Association
For a newsletter designed by the American Bankers Association and geared toward youth and financial education, click here:
Also, be sure and check out their educational banking glossary by clicking here.
Youth - Social
For Kids:
Using the Internet
Using the Internet can be lots of fun. It’s a great way to talk to your friends through email and you can go to some cool websites. If you use the Internet with some good ground rules, it can be a good experience.
However, while many Internet sites are safe, they aren't all safe! Going to a website you don't know could expose you to bad photos or material you shouldn’t be reading. Opening an email from someone you don’t know may lead you into trouble and could cause your computer to get a virus, which could ruin it.
If someone is trying to contact you that you do not know, let your parents or another adult know right away. If anyone is bullying you, report that as well.
BE CAREFUL! Listen to your parents and teachers about safe use of the Internet. “Don’t talk to strangers” applies to using the Internet. Never give out personal information on the Internet including your address.
Remember, using the computer is a privilege and it must be used in a mature way!
Being a Good Friend
Being young is fun and part of that fun is making lots of friends. Making a new friend is always exciting as you discover what you each like to do. Playing games, listening to music, or even just hanging out together can create great memories!
Being a good friend means to be honest, a good listener and trustworthy. It means being supportive when your friend is down or troubled. Being a good friend can also mean letting your friend know when you don’t agree with something they are doing. This can be hard, but it’s what being a good friend is all about. Your friend may not like what you say at the time, but will respect you in the end.
Good advice
Try to make friends with other kids who behave well and obey the law. Don’t get involved with kids who are doing drugs or other things they shouldn’t be doing. Talk to your parents or teachers if you are concerned about those kids or if your own friends start with behaviors that are not healthy.
For Parents:
Social Networking Safety
Social networking sites have become a mainstream medium for teens and adults. Although some of these sites are monitored, there is no way to completely prevent your child from the possibility of being exposed to inappropriate content. These sites encourage the exchange of personal information and, if a child is not cautious, it can be a perfect venue for a predator to take advantage of the child. Parents can teach their children to socialize safely online.
The Federal Trade Commission has created a parent’s guide to social networking sites: http://www.FTC.gov
Here are some quick tips from the FTC on teaching your kids to socialize safely online:
Help your kids understand what information should be private.
Use privacy settings to restrict who can access and post on your child’s website.
Explain that kids should post only information that you- and they- are comfortable with others seeing.
Remind your kids that once they post information online, they can’t take it back.
Know how your kids are getting online.
Talk to your kids about bullying.
Talk to your kids about avoiding sex talk online.
Tell your kids to trust their gut if they have suspicions.
Read sites’ privacy policies.
Take extra steps to protect younger kids.
Go where your kids go online.
Review your child’s “friends” list.
To learn more about staying safe online, visit the websites of the following organizations:
Federal Trade Commission The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit FTC.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC manages OnGuardOnline.gov, which provides practical tips from the federal government and the technology industry to help you be on guard against Internet fraud, secure your computer, and protect your personal information.
Well kids, you’re going on a trip! How exciting is that?
Packing Tips Here are some helpful tips on how to pack in different traveling environments.
Plane - If you are traveling by plane, you can only pack so many things in a suitcase. So pack everything you need, but leave those things that you can live without at home.
Car - If you are traveling by car, don’t forget to pack a few road games, books, toys or headphones to keep you busy!
Other things to think about bringing:
Spending money
Camera
Addresses of friends/relatives so you can send them a postcard
Car Travel Ideas
Here are some easy ways to make a long road trip fun for the entire family!
Using the letters of the alphabet, find an object outside that starts with that letter. Let the entire family play along!
Name a certain type of car or a certain color. See who can be the first one to spot a match!
Play educational games. For example, name all the state capitals or think of other things that would test your memory.
Play an “I Spy” game. Find something that everyone in the car can see and give them the first letter of that object. Whoever guesses it first, wins! For example, if you see a tree, you give everyone the letter “t” as a clue to your secret object.
Safety Tips
If you follow these safety tips, you will have a much better chance of having a great vacation.
Stay close. Stay close to your mom and dad or your adult guardian, especially in the airport! Be aware of strangers.
Be safe. If you are hiking or visiting steep places, stay off fences and protective walls and barriers. Many kids have fallen and accidentally hurt themselves. Nothing is worse than having to go to the doctor on vacation! So stay safe.
Obey park rules. If the sign says, “Don’t feed the wildlife,” there is a good reason for that sign. You don’t want to get a bite or cause harm to the wildlife.
Keep your money safe. Don’t let it fall out of your pocket or forget and leave your purse behind.
Keep your camera and other valuables safe. Make sure you don’t leave them in the car within plain view of a potential thief.
Stay healthy. Be sure to wash your hands frequently so you don’t get sick.
Listen. Finally, be sure to listen to your mom and dad or the person in charge of your travel.
Other Vacation Ideas
Take pictures of places, people and things so that you can remember your trip.
Consider writing a diary or journal of your day by day adventures. When you get back, you can add your photos and then share your vacation with your friends.
If you are visiting relatives that you haven’t seen in a long time, be sure to spend lots of time visiting with them. It might be a long time before you see them again!
For Parents:
Traveling with Children
Traveling with children can complicate a simple trip. In a blink of an eye, holiday travel and crowded airports take on another meaning.
TSA offers the following helpful tips on what to do before going to the airport and while at the airport:
Before Going to the Airport
Allow yourself extra time to get through security - especially when traveling with younger children, who may require extra equipment and assistance.
Call your airline or travel agent for recommended check-in times.
Talk to your children ahead of time about the screening process so that they will not be frightened or surprised. Tell them not to joke about threats such as bombs or explosives.
At the Airport
Remind children about the screening process so that they will not be frightened or surprised. Also remind them not to joke about threats such as bombs or explosives.
Tell your children that their bags (backpack, dolls, etc.) will be put in the X-ray machine and will come out at the other end and be returned to them.
Let your children know that a security officer may ask to see their shoes, but that they will get these back as well.
You may want to consider asking for a private screening if you are traveling with more than one child.
General Travel Information TravelWithYourKids.com is a website written by parents for parents. The website has tips on everything from great places to go, to how to prepare for your trip, what to do en-route to your destination and how to get around once you arrive.
Vaccines/Immunization Questions
When traveling internationally with children, it’s good practice to refer to the Center for Disease Prevention website for information on the region.
Need help deciding where to go with your family? KidsCanTravel.com is a resource for deciding where to go and what to do when you get there.
You are on the Youth Homepage. The sections on this page are in order according to the Topic Menu. To view all the contents of this page, please use your scrollbar on the far right of your Internet Browser. To view the entire content of each section, please use the scrollbar within that section.
