One of the most popular and flexible ways for the bank trust department to serve you is through creation of a personal agency account.
By signing a simple contractual document which can be terminated at any time, you can authorize the bank to hold, manage, invest and distribute assets as you direct. Details include:
- With your written instructions, the bank can buy or sell any legitimate stock, bond, mutual fund, exchange traded fund, or certificate of deposit for your behalf
- The agency account can be used to pay your bills, a service which can be convenient while traveling or during illness
- The agency can collect rental from your investment properties
- The agency can provide year end reports which assist you and your tax preparer